Cocoa exports in 2024 generated K1.2 billion

The Cocoa Board of Papua New Guinea has revealed an unprecedented increase in revenue generated from the country’s cocoa exports.

Cocoa Board’s chief executive officer, Jessie Anjen said cocoa had fetched a new record of K1.2 billion in export revenue for the year 2024.

Mr. Anjen said this is the first time in PNG’s history that the cocoa export earnings have exceeded the K1 billion mark.

He says over the years, PNG cocoa only averaged at K400 million.

"That's total exports out of Papua New Guinea. And that's a record for itself in the cocoa industry in Papua New Guinea so far. We've never reached that kind of figure before," Mr. Anjen said.

Mr. Anjen also says the increase in revenue is being prompted by the current high cocoa price at the world market.

This in turn is translating into high cocoa prices for the local farmers.

He said despite the current trending cocoa price; he urged farmers to maintain the high-quality cocoa beans and not to compromise the standard. 

Meantime, the current prices range between K2,125 and K1,790 per cocoa bag since last year