Malaysia imports most of PNG cocoa

Business

THE Malaysian market has accounted for the largest share of Papua New Guinea cocoa exports representing 44 per cent of Papua New Guinea’s total exports, according to the PNG Cocoa Board.
It reported in its Cocoa Market Report 2016 released this week that in the year to June, most of Papua New Guinea’s cocoa beans were shipped to Malaysia.
Papua New Guinea shipped 31 per cent to the USA, 13 per cent to Singapore, 9 per cent to Belgium and 1 per cent to Indonesia and Germany.
The balance of 0.4 per cent was shipped to countries that accounted for less than 1 per cent.
The countries were France, Netherlands, Australia and New Zealand.
According to the report, South Asia continued to be the major destination for Papua New Guina cocoa beans accounting for 69 per cent or 11209 tonnes of total exports from June 2015 to June 2016.
Outspan has been the dominant exporter since 2015, accounting for 49 per cent of total exports.
Agmark exported 27 per cent, Globe exported 6 per cent, Waiyu Limited 5 per cent, PNG Breit and East New Britain Development Corporation exported 3 per cent.
Papua New Guinea exported two grades of dried cocoa beans for the 2015-2016 cocoa year.
The export quality beans constituted a share of 99.9 per cent  or 35201 tonnes of total exports.
Cocoa Board of Papua New Guinea is envisioned to foster a sustainable cocoa industry that enhance rural livelihoods and contribute to the well being of our rural population under National Pillar No: 2 of wealth creation.
It aspires to foster innovative farming practices that maximise farmer’s profitability and income.

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