In February, Pacific Trade Invest (PTI) Europe participated in Chocoa, Europe’s premier chocolate industry trade show. PTI Europe hosted a Pacific Night showcase, which was attended by over 30 ‘bean-to-bar’ chocolate makers interested in learning more about cocoa beans from the Pacific Islands. Thanks to the International Trade Centre (ITC), five Pacific cocoa exporters were in attendance at Chocoa, and were able to be directly connected with European makers.
The Pacific Night event, and subsequent industry introductions, led to three world-class bean-to-bar makers confirming their participation in the Strongim Business inward-buyer mission to the Solomon Islands taking place this June.
PTI Europe Trade Commissioner, Jodie Stewart, celebrated this success and highlighted the opportunities for speciality cocoa beans coming out of the Pacific.
“Through events such as Chocoa and other industry insights, we firmly believe in the growth opportunity for cocoa exports from the Pacific Islands, specifically in the production of speciality cocoa. Consumers are increasingly moving to artisanal chocolate, understanding the health benefits and looking to support producer communities. We believe that for cocoa-exporting countries like Papua New Guinea, Vanuatu and the Solomon Islands, producing speciality beans, along with forming enduring partnerships with buyers committed to long-term support, is the golden ticket.”
Currently, worldwide demand for cocoa beans exceeds supply, as the countries responsible for 60 per cent of global cocoa production face unfavourable weather conditions.
Stewart notes that while typically higher cocoa prices can benefit farmers as they receive greater returns for their goods, producers must fortify their businesses against the boom-and-bust nature of commodity pricing.
“While current cocoa prices undoubtedly benefit farmers in the Pacific Islands, it is essential to acknowledge that prices can fluctuate due to various factors, including supply and demand dynamics, weather patterns, government policies, and global economic conditions. During such periods, many farmers enter the market and benefit; however, when prices decline, they may be left vulnerable,” said Stewart.
“Right now, there is opportunity for the Pacific to produce more cocoa for export and solidify international relationships, while also getting their business settings right for future fluctuations.”
Stewart emphasised that PTI Europe looks to further support cocoa producers, exporters and farmers, to sustainably grow their business, and connect with buyers and distributors in the European market.
For more information on Pacific cocoa exports, reach out to the team here.
