Philippines urged to increase cacao production

MANILA, Philippines - The Philippine cacao industry is urged to increase its production amid a global shortfall in cacao supply.

Edwin Banquerigo, coordinator of the Department of Trade and Industry's national cacao industry cluster said the global market is estimated in 2020 to a 1-million metric ton deficit in cacao supply.

He added that the United State and Europe, main importers of cacao, are considering importing from other countries aside from Ivory Coast and Ghana which produce 60 percent of the world's cacao supply.

Banquerigo said the Philippines has to take advantage of the situation by boosting its production by at least 45 percent and by cultivating 150,000 hectares of land for cacao trees.

The country annually produces 25,000 metric tons with 13,000 hectares of land used for planting. Mindanao is the top producer of cacao in the country with an 80-percent share in the local production.

The country earned $2.53 million in cacao exports in the first eight months of 2012.

Banquerigo said local farmers should also be supported through the adoption of best practices in farming, expansion of farm and development of cacao byproducts.