Fiji Urged to Establish Cocoa Board Amid Global Shortage and Rising Prices

Arif Khan, director of Cacao Fiji, calls for the establishment of a national cocoa board to capture export earnings amid a global cocoa shortage and rising prices. He emphasizes the necessity for formal regulations, strategic planning, and operational oversight to develop the local cocoa industry and ensure future growth.

Fiji is facing a significant loss in export earnings potential from cocoa as global prices approach $US10,000 per metric tonne. This situation arises due to the local cocoa industry’s lack of readiness for mass commercial production. Arif Khan, director of Cacao Fiji, urges the government to establish formal regulations to support the industry’s growth.

Mr. Khan highlighted the current global cocoa shortage, caused by declining production in leading nations such as Ghana and Ivory Coast, coupled with issues such as disease, insufficient investments, and adverse weather. The estimated global deficit is around 500,000 metric tonnes, leading to a staggering 300% price increase in the world market. He advocates for significant investment in cocoa as a viable commercial opportunity for Fiji.

Emphasizing the need for a structured industry approach, Mr. Khan proposed the creation of a cocoa board to oversee operations and strategy, warning against disorganized development without clear goals or key performance indicators. He mentioned the importance of planning for the inclusion of thousands of farmers and achieving measurable production targets to stimulate growth.

Mr. Khan also attended the annual cocoa convention in Amsterdam, where he underscored Fiji’s unique branding potential for its cocoa products, suggesting that they can be marketed as premium offerings to command higher prices on the global stage.

Fiji’s cocoa industry stands on the brink of significant opportunity amidst a global cocoa shortage and rising prices. Urgent governmental action is needed to establish a structured regulatory framework and a cocoa board to ensure sustainable growth and strategic development. Through proper initiatives, Fiji can transform its cocoa sector into a lucrative export market, capitalizing on its unique branding potential to produce premium products.

Original Source: www.fijitimes.com.fj