Cocoa Trading
PNGAC buys wet beans and processes them to quality dry cocoa beans. In PNG, they are a mix of the Amazonia and Trinitario cocoa bean species and are considered one of the finest in the world. The bean is highly sought after by some of the finest chocolatiers in Europe, the USA and other parts of the world.
PNG cocoa is globally recognised as fine or flavour due to the type of species being grown, together with the climatic and soil conditions within the country. Although PNG currently only accounts less than 2% of the world’s cocoa production, it produces up to 9% of the world’s fine or flavour cocoa.
As testament to the uniqueness of PNG cocoa, USA and European buyers visited PNG in 2016 and made the following comments:
“Its cocoa grown in paradise, has a unique taste, really powerful fruity notes, tobacco notes and lots of other flavours which, as chocolatiers, we can tease out”. Owner, Chocolate Wave, United Kingdom
“If the cocoa is processed properly, it is some of the best cocoa in the world.Not all countries can say that.PNG really has a unique flavor profile that could be very much sought after in the developing specialty chocolate market so there’s lots of potential for PNG to focus on quality and branding itself as one of the top flavor countries in the world”. TCHO, San Francisco
The supply base of PNGAC are family farmers who are given the opportunity to become shareholders of the company, enabling them to participate in the whole cocoa supply chain, from producing higher volumes of high-quality beans, to efficient drying, bulk sales and ultimately value creation and direct export of both raw and value-added products. They sell their cocoa to PNGAC and receive dividends as value is created and captured throughout the value chain.
PNGAC aims to pay farmers the best price for their wet beans to assist maintain loyalty. Prices play a large part in the farmer’s decision about whether to plant cocoa or change to other crops such as oil palm. Whilst we aim to ensure price stability for farmers, we also provide them with an opportunity for price growth through improved business practices and participation further in the value chain.