Cocoa Board forms company to help growers

THE Cocoa Board has launched a new company to help small growers shift from subsistence farming to running a small profitable business.
Chief executive Boto Gaupu, who was speaking during the official launch on Friday in Kokopo, East New Britain, said the Cocoa Board has facilitated the establishment of the PNG Agriculture Company (PNGAC), a commercial entity that is owned by farming families.
He said the business model allows farmers to participate in the whole cocoa supply chain, from producing higher volumes of high quality beans to efficient drying, bulk sales and ultimately value creation and direct export of both raw and value added product.
Farming families are shareholders in the company and will sell their product and receive dividends.
Gaupu said the ENB chapter has formally established four pioneer farmer groups who are members of co-operative societies of Nganalaka, Palnapepe, Bitavavar/Vunamami and Raluana in the Kokopo and Gazelle districts that are producing, processing and selling cocoa.
The groups received their certificates of membership on Friday.
Gaupu said current group membership is 8000 and that is expected to increase to 20,000 as the concept is replicated in other provinces
“This move is about empowering the people and is a direct effort towards re-directing the industry in the way we do business in the industry. This will see more benefits flow to the rural families in villages,” he said.
“PNGC will be the backbone of developing cooperatives as a business society.”