AUSTIN, Texas --Natural and organic supermarket chain Whole Foods Market Inc. said Thursday it has created a buying program to source "socially responsible products" from developing countries.
The program, called the Whole Trade Guarantee, sets criteria for products to ensure quality, more money for producers, better wages and working conditions for workers and environmental production practices that promote biodiversity, the company said.
"With our shoppers' growing concern about ethical and responsible trade and with our company's increasing scale and scope, the time is right for Whole Foods Market to help make more of an impact," said Chief Executive John Mackey.
To make sure its products fit each criteria, Whole Foods said it is working with the Rainforest Alliance and TransFair USA. Both groups will act as certifiers and will "aid producers in getting their products to market, improving their operations and verifying and tracking the program results."
Whole Foods also will donate 1 percent of product sales from the program to the Whole Planet Foundation, which provides grants for loans to women entrepreneurs in developing communities.
Products in the new program will be identified with a Whole Trade logo. The company said the first products will be in the grocery and produce departments and will include tea, cocoa, bananas, rice and sugar.
Three of Whole Foods Market's Allegro Coffees also will be in the program.
Whole Foods said it wants to have more than 50 percent of its imported products from the developing world under the program within 10 years.
Whole Foods shares fell 3 cents to $44.40 in morning trading on the Nasdaq Stock Market.
