| Abstract / Content summary |
Global demand and prices for cocoa have soared in the past few years with the price now the highest it has been in over 44 years – USD6,514 per metric ton as of 27 February 2024. In Papua New Guinea, cocoa ranks third among agricultural export crops, following palm oil and coffee, contributing around 14% of national agricultural export revenue. Smallholder farmers are responsible for more than 80% of cocoa production, with cocoa farming serving as the primary income source for approximately two million people. |