PH to target $250M earnings from Cacao exports by 2022
The Philippine Center for Post-harvest Development and Mechanization (PhilMech) said that the Philippine government is targeting to generate $250 million additional in export from cacao by 2022.
CACAO. Philippines is targeting $250 million earnings from cacao industry. Image grabbed from agricoolture.ph
According to PhilMech, the government is also targeting to plant 1 million cacao trees yearly until 2022. As per Business Report, “at least 100,000 metric tons of quality beans of cacao will be produced, earning for 100,000 cacao farmers P130,000 additional income per hectare annually, said PhilMech Executive Director Dr. Dionisio G. Advincula.
As Dr. Advincula noted, cacao is already included in the list of high-value cash crops due to its “high potential for income for the farmers and the Philippines as well.”
To reach the target of 100,000 metric tons of cacao a year, the cacao road map calls to open up 150,000 hectares of farms for cacao or to expand cacao plantations by 17,000 hectares yearly. To start this plan, Advincula said that the plan would require an “increase in production level, expand production areas, move up value chain, strengthen market presence through branding, and level up quality standard.”
Source: Business Mirror, Department of Trade and Industry
