Madang Cocoa Company Limited is a 100% Papua New Guinean owned company that was established in late 2018.
The company is initiated by the local cocoa farmers along Amele, Wali Area in Madang Province, Papua New Guinea.
Madang Cocoa Company Limited (MCCL) came into existence as a result of collaboration between the Madang Cocoa Co-operative Association Limited (MCCA) and Eastern Gate Capital Advisors Limited (EGCAL) with support from the Madang Regional Office of the Cocoa Board of Papua New Guinea in late 2018.
Cocoa is one of the highly demanded commodities that PNG’s economy relies on. With the assistance of Eastern Gate Capital Advisors Limited, MCCL have opened up a market channel in Brisbane, Australia and supply dry cocoa beans to Noosa Chocolate Factory annually. These opportunities provide hope and income to people in Madang’s remote communities by purchasing their dry cocoa beans.
MCCL have developed a 6 year cocoa catalyst strategy that preceded an MoU signing between EGCAL and MCCAL and support from PNG Cocoa Board. This has created a pathway to conduct various training sessions for the local cocoa farmers to glean the world’s best practices with support from their international partners. The growth model aims to transform the landscape of cocoa business in Madang and PNG as a whole by subsidizing local farmers to achieve higher yields. The ultimate ambition is to eradicate poverty in their communities and leave no one behind.
Why it’s a great investment?
This is indeed an investment opportunity because Madang province and PNG as a whole produces high quality cocoa beans that compete on par against other top cocoa producing countries in the world.
Challenges required to be addressed
Local cocoa farmers experience various challenges including: a need for continuous training on improving growth-yield, processing, conditioning and understanding market demands; the need to establish a local processing plant and creation of fair market conditions; the need to rehabilitate rundown plantations; logistics support for export and inadequate infrastructure services into cocoa producing communities.
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