PNG Needs to focus more on Coconut Industry
Coconut is a significant cash crop that has helped so many people in the rural areas make ends meet at the same time contribute over K126.5 million yearly to Papua New Guinea's economy.
Therefore it need’s recognition of the government and relevant agencies to boost the industry says Minister for National Planning and Monitoring Sam Basil. Termed the “Tree of Life” 103 products can be derived from Coconut which 85% of Papua New Guineans depend on.
Welcoming the Inaugural Coconut Festival which started today, Minister Basil says more focus must be given to the Coconut Industry as it puts money back into the pockets of local farmers and families.
Papua New Guineans have depended heavily on this cash crop pre-independence and post-independence.
Acting Managing Director for Kokonas Indastri Koporesen (KIK) Alan Aku says today, sixteen SME’s are in the business of creating coconut products which ranges from body dress and decorations, housing, fuel, oil for cooking, beverages, cosmetics, biofuels, soaps, lotions, shampoos among many others.
According to the KIK, it is estimated 90% of the global demand for coconut products is unmet.
Papua New Guinea’s Deputy Prime Minister Davis Steven says the Coconut Industry is the missing the link which will boost the country’s economy.