Fiji is at a pivotal moment in the global cocoa industry, according to Darius Singh, the owner of BLUE Phoenix Group Limited. Speaking at the Innovation and Entrepreneurship Summit in Labasa, Singh highlighted the significant opportunities arising from the surging international cocoa prices, which have reached about $22,000 per tonne. The increase is primarily due to supply challenges caused by diseases and climate issues affecting major producers like West Africa.
While market conditions may eventually stabilize, Singh indicated that prices are likely to remain robust at approximately $15,000 per tonne moving forward. This presents a substantial opportunity for Fiji, which currently produces only a small portion of the world’s cocoa supply, lagging behind Pacific neighbors such as Papua New Guinea and the Solomon Islands.
A critical advantage for Fiji, Singh pointed out, is its geographical position that has become increasingly favorable due to disruptions in West African cocoa supply. He noted that potential buyers in New Zealand and Australia are currently sourcing cocoa from regions unaffected by these challenges, leaving Fiji out of the conversation.
Addressing quality concerns, Singh acknowledged that inconsistent flavor and production standards have left buyers dissatisfied with Fijian cocoa. “Growing cocoa isn’t the challenge anymore, it’s about processing it to world-class standards,” he stated, emphasizing the need for improvements in processing techniques to meet global quality expectations.
These insights echo the sentiments expressed by other industry experts, including Agriculture Minister Vatimi Rayalu. Earlier discussions have pointed to the necessity of a structured approach to revitalizing Fiji’s cocoa sector, aiming to enhance production and value addition. Minister Rayalu and other stakeholders have been advocating for initiatives that could increase local cocoa production, aiming to position Fiji as a competitive player in the global market.
With a concerted effort from both local businesses and government support, there is optimism that Fiji’s cocoa industry can not only fulfill domestic needs but also emerge as a significant exporter. If successful, this revitalization could lead to job creation, increased farmer incomes, and a strengthened overall economy, making this a hopeful time for Fiji’s agricultural landscape.
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