Philippines asked to boost cocoa industry

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cocoa treesThe Philippines could take a chance by stepping up its cocoa production amid a global shortfall in cocoa supply, Edwin Banquerigo, coordinator of the Department of Trade and Industry’s national cocoa industry cluster said.

He argued that the global market is estimated to meet a 1-million metric tonne deficit in cocoa supply by 2020.

The US and Europe, main importers of cocoa, are considering importing from other countries aside from Ivory Coast and Ghana which currently produce 60 per cent of the world’s cocoa supply.

Banquerigo added the Philippines has to take advantage of the situation by boosting its production by at least 45 per cent and by cultivating 150,000 hectares of land for cocoa trees.

At present, the Philippines produces 25,000 metric tonnes annually in 13,000 hectares of land used for planting. Mindanao is the top producer of cocoa in the country with an 80-per cent share in the local production. The country earned $2.53 million in cocoa exports in the first eight months of 2012.

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Reading Time: 1 minute

The Philippines could take a chance by stepping up its cocoa production amid a global shortfall in cocoa supply, Edwin Banquerigo, coordinator of the Department of Trade and Industry’s national cocoa industry cluster said.

Reading Time: 1 minute

cocoa treesThe Philippines could take a chance by stepping up its cocoa production amid a global shortfall in cocoa supply, Edwin Banquerigo, coordinator of the Department of Trade and Industry’s national cocoa industry cluster said.

He argued that the global market is estimated to meet a 1-million metric tonne deficit in cocoa supply by 2020.

The US and Europe, main importers of cocoa, are considering importing from other countries aside from Ivory Coast and Ghana which currently produce 60 per cent of the world’s cocoa supply.

Banquerigo added the Philippines has to take advantage of the situation by boosting its production by at least 45 per cent and by cultivating 150,000 hectares of land for cocoa trees.

At present, the Philippines produces 25,000 metric tonnes annually in 13,000 hectares of land used for planting. Mindanao is the top producer of cocoa in the country with an 80-per cent share in the local production. The country earned $2.53 million in cocoa exports in the first eight months of 2012.

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