• PNG Business News

Spice Value to Rise

In the next four years (2021 to 2024), the export and production value of spices is expected to rise from K200 million to K500 million.

According to the chief executive officer for PNG Spice Industry Board Michael Waisime, plans are to promote and develop a spice industry towards a sustainable economy. He said that to increase the production, training of farmers and industry participants, as well as crop yielding and quality at the farm level, are needed.

For the last five years from 2014 to 2018, the production volume totals 202,223kg (202.2 tonnes) and the export value amounts to K202.2 million. The current projects for the next five years, meanwhile, is expected to rise to 1,450,000kg (1450 tonnes) and that in kina value is expected to grow to K500 million.

He also added that the development of all activities should be catered for with the goal of increasing production, quality and crop yield at the farm and industry level.

“These include rehabilitation, extension and new development, nursery establishment and seed or planting materials distribution, facilitating market and credit access, support to downstream processing operations and extension staff and farmer training in major spice growing provinces,” he said. “Apart from vanilla, marketing of other spice crops continues to be a constraint to increase productivity. Thus, the output will identify and provide market access to spice producers both locally and internationally and the dissemination of market information.”

Mr Waisime added that this output focuses on developing monitoring systems at the farmers and exporters level and setting a standard grading classification policy for spice crops.

Spice licensing and registration for traders and exporters have already been drawn and awaiting the board to approve and review its implementation in 2021.

However, Mr Waisime said that efforts for the distribution of cuttings or seedlings are needed in all locations to increase the production of spice crops.

Meanwhile, the spice industry praised the government, Department of National Planning and other stakeholders in improving this industry. It is only right that the government through the Department of National Planning and Monitoring funds the spice programs for some diversification in the crops of PNG that has challenges in keeping up with the prices of the world.

PNG Business News

2nd Floor, Suite 6,

Corinthian Plaza Building,

Paseo De Roxas, Legaspi Village,

Makati, Philippines

Phone: +632 251 5599

Subscribe to Our Newsletter

  • White Facebook Icon

© PNG Business News