Cocoa exports on two year high

THE total export value for cocoa for the year 2010/2011 reached K344, 568 million. That is five percent or K16 million more than the previous cocoa year, according to the latest Cocoa Market Report released by the Cocoa Board of PNG.
Cocoa Board of PNG acting Chief Executive Officer Barnabas Toreu said production for the cocoa year 2010 and 2011 reached 47,592 tonnes, an increase of approximately 21 percent or 8192 tonnes more than the previous cocoa year (2009/2010).
He said for the calendar year 2011, production totalled 47, 954 tonnes, 16 per cent higher (6562 tonnes) than production in 2010, adding that this was partly due to higher production output in East Sepik Province.
Total export volume for 2010/2011 cocoa-year reached 47,289 tonnes, approximately 21 per cent higher than exports volumes for the 2009/2010 cocoa year.
Total exports for the calendar year 2011 was 47,652 tonnes, 14 percent higher than exports in 2010.
Mr Toreu said total export value for the calendar year 2011 was K321 million which represented a decrease of eight percent compared to export earnings for the 2010 calendar year.
The lead producer provinces for the cocoa year 2010 and 2011 were the Autonomous Region of Bougainville and East Sepik Provinces at 36 per cent each or 17,180 and 17, 071 tonnes respectively followed by East New Britain Province with 16 per cent (7527 tonnes) and Madang with 2053 tonnes.
New Ireland, West New Britain and West Sepik Provinces all accounted for 2 per cent each while other provinces accounted for 1 percent or less.
According to the report, smallholder cocoa growers produced 98 per cent or 46, 673 tonnes while plantations produced two per cent or 919 tonnes of the total 47,592 tonnes produced in the cocoa year 2010 and 2011.
Mr Toreu said on the international scene, according to the ICCO, world production reached 4.304 million tonnes in the 2010/2011 cocoa year, 18.5 per cent higher than the previous season (2009/2010).
He said this was attributed mainly to the favourable weather conditions in the major producing countries.