The New Ireland Development Corporation (NIDC) launched a cocoa buying point at RMI Power Road in Kavieng on Tuesday, partnering with RMI and Agmark Limited to improve market access and streamline cocoa sales.
The project, operated through NIDC’s subsidiary Malagan Agriculture Limited, is being implemented under the Chan-Kolivos Government to strengthen the cocoa supply chain from farmers to domestic markets and export channels.
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NIDC chairman Mr. Benjamin Kimbe said the buying point was a strategic step towards strengthening the province’s cocoa industry.
At the launch, RMI manager Shaun Wong reported that the facility had already received 70 bags of cocoa as of that morning, marking the start of operations.
He said farmers would receive payments directly into their bank accounts, ensuring prompt and reliable compensation. The current buying price is K1,360 per bag, providing farmers with a clear price benchmark for their produce.
Mr. Kimbe described the initiative as a significant milestone for NIDC and the communities it serves.
“Farmers are the backbone of this industry. This is a historical occasion and long time coming for our people,” he said.
The new facility means farmers will no longer need to travel to Kokopo to sell their cocoa, helping reduce transportation costs, improve convenience and strengthen confidence in the local market.
Delivering the keynote address, New Ireland Governor Byron Chan commended NIDC for its efforts and highlighted the progress made in the past eight months.
He encouraged farmers to take advantage of the new buying facility and expand agricultural production to support household livelihoods and local economic activity.
The cocoa buying point complements NIDC’s K250,000 Copra Buyers Subsidy Programme, launched in July, which provided working capital to 50 local copra buyers across the province.
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Under the programme, each of the 50 buyers, representing five buyers from each local-level government (LLG), received K5,000 to support copra purchasing activities.
The Chan-Kolivos Government is supporting agriculture as a means of sustaining livelihoods and helping communities remain economically resilient during both favorable and difficult times.