Agro sector enjoys good export prices

Business, Main Stories

The National – Tuesday, July 5, 2011

THE agricultural sector is said to be experiencing a period of exceptionally good prices for nearly all commodity exports, newly-appointed Agriculture and Livestock Minister Philip Kikala said.
Kikala said the volume of farm exports was recorded on the average for palm oil, rubber and marine products while output declines were recorded for copper, copra and copra oil.
He was citing figures provided by the Department of Agriculture and Livestock and commodity agencies.
Kikala said export volumes of round logs, coffee and tea fluctuated to steady average for the last 10 years.
He said the success story for the sub-sector was the oil palm industry, which peaked in 2008 with export revenue of more than  K1 billion.
Kikala said agriculture sector had a huge untapped potential to create wealth and broad-based economic growth for PNG.
“This is so essential for sustainable development and for the prosperity of our people and nation,” he said.
Agriculture was fundamental for growth and sustainable development in PNG, Kikala said.