THE national cocoa industry has delivered an exceptional economic boost worth SBD 261 million in 2024, marking an astonishing 196 per-cent increase from SBD88 million in 2023.
This was announced in a statement from the Commodity Export Marketing Authority (CEMA) Cabinet Sub-Committee on Monday.
The CEMA Cabinet Sub-Committee said this exceptional economic boost from the cocoa industry was driven by the sharp increase in global cocoa prices.
“In 2024, Solomon Islands exported 5,000 metric tonnes (MT) of bulk cocoa, generating an impressive SBD 261 million, marking a staggering 196% increase from the SBD 88 million recorded in 2023 for 4,220MT.
“This remarkable growth underscores the resilience of the local cocoa sector and its vital role in strengthening the national economy. With soaring global demand and higher market prices, Solomon Islands cocoa farmers are reaping the benefits of this historic price hike,” the CEMA Cabinet Sub-Committee said.
CEMA said this success would not have been possible without the steadfast support it received from the Ministry of Commerce, Industry, Labour and Immigration (MCILI), Ministry of Agriculture and Livestock Development (MALD), the Commodities Export Marketing Authority and the Privet Sectors, whose dedication to revitalising the industry played a crucial role in strengthening production, enhancing market access and ensuring sustainability for cocoa farmers across the country.
“This is fantastic news for our economy and a strong indicator for GNUT government policy statement 2.1.5 (d. i, and ii) support to increase the export of commodities such as cocoa industry. We extend our sincere gratitude to MCILI, MALD, CEMA and our exporters (Private Sectors), not forgetting our hard-working famers for their ongoing efforts in driving the industry forward,” Director CEMA Cabinet Sub-Committee, Simon Chottu said in the statement.
The CEMA Cabinet Sub-Committee paid acknowledgment to the country’s dedicated cocoa exporters, who have played an instrumental role in ensuring the delivery and sustainability of the cocoa industry.
The country’s active cocoa exporters in 2024 are as follows:
- CEMA Trading as Solomon Commodities
- BK Cocoa Enterprises
- ST Exporter
- OBO Export Agencies
- Solomon Commodity Export Ltd
- Chan Wings Ltd
- P-Tech & Pro Services
- Jamcop Co. Ltd
- David Kebu Family Cocoa Enterprise
- CATHLIRO Cocoa Development Ltd
- Martin & Brothers Enterprises
- Solfresh Products
- CCS Ltd
- Pacifiki HR
- LF & Sons Enterprises
- Unity Cocoa Enterprise
- Kaprikonia Trading Co. Ltd
- CAML Solomon Trading Ltd
The CEMA Cabinet Sub-Committee said these exporters have been vital in sustaining the livelihoods of cocoa farmers and ensuring the quality of the country’s cocoa reaches international markets.
“Their hard work, dedication, and commitment to excellence have significantly contributed to this historic milestone,” it said.
The CEMA Cabinet Sub-Committee assured that the government remains committed to fostering continued growth in the cocoa industry in recognition of its importance in driving economic prosperity, empowering rural communities and promoting sustainable agricultural development.
“With increased investment, enhanced infrastructure and strengthened partnerships, Solomon Islands cocoa sector is poised for even greater achievements in the coming years,” it added.
