Fiji is losing out on cocoa export opportunities as global prices rise. Arif Khan of Cacao Fiji advocates for governmental regulation and the formation of a cocoa board to ensure structured industry growth. The global cocoa shortage presents a pivotal moment for strategic investment in Fiji’s cocoa sector.
Fiji is currently missing out on lucrative export earnings from cocoa, as global prices approach $10,000 per metric tonne. The local cocoa industry lacks preparedness for large-scale commercial production. Arif Khan, director of Cacao Fiji, has urged the Government to establish formal regulations governing the cocoa sector to capitalize on this opportunity.
Mr. Khan highlighted that the world is facing a cocoa shortage, contributing to rising prices, attributed to declining production in primary cocoa producers like Ghana and Ivory Coast. Factors such as disease, inadequate investment, and climate change have further exacerbated this issue, leading to a projected global shortfall of 500,000 metric tonnes.
He emphasizes the need for a structured approach to the cocoa industry, advocating for a strategic meeting to devise a plan, including the creation of a national cocoa board to oversee daily operations. He cautions against haphazard methods lacking strategic goals, emphasizing the importance of measurable targets to foster industry growth.
Mr. Khan, a recent attendee of the cocoa convention in Amsterdam, remarked on Fiji’s potential to market its cocoa products as premium offerings by leveraging its unique branding, thereby achieving higher price points in the global market.
In conclusion, Fiji stands at a crossroads in the cocoa industry, facing both significant challenges and opportunities. Establishing a national cocoa board and implementing a strategic plan could help capitalize on the current global cocoa shortage. With proper regulations and a structured approach, Fiji can position itself to enhance its cocoa production and secure lucrative export earnings.
Original Source: www.fijitimes.com.fj
