Papua New Guinea (PNG) is poised to record its best-ever annual cash-crop export revenue in 2024, largely on the back of surging global cocoa prices, notes ANZ economist Kishti Sen.
palm oil
Last year, the United Kingdom government used major sporting events like the Commonwealth Games and the Rugby League World Cup to showcase Papua New Guinea coffee. Keith Scott, the UK’s High Commissioner to PNG, tells Business Advantage PNG of further plans to encourage more business with post-Brexit Britain.
The timing of new tariffs affecting Papua New Guinea’s agriculture sector could not come at a worse time, according to the CEO of the country’s largest employer, New Britain Palm Oil.
The oil price has been extremely weak but the fall in LNG prices has stabilised and palm oil is up: a monthly review of Papua New Guinea’s commodities and financial markets. Business Advantage PNG’s monthly overview of commodity and financial markets.
Oil and gas prices both fell this month, with LNG dropping particularly sharply, while gold and cocoa are holding their own in a tough market for commodities.
After ten years of exporting, Niugini Organics is now selling its certified organic coconut products domestically. It has required a very different approach, co-director Dennis Hill tells Business Advantage PNG.
New Britain Palm Oil has turned its philosophy of sustainable production into profits, according to Ian Orrell, Group Head of Sustainability. Speaking at the Business Advantage PNG Investment Conference in Brisbane, he warned of the need to improve the palm oil industry’s global reputation.
PNG Bank governor says shortage of forex affecting businesses, interest rates comparatively ‘very high’, and ANZ identifies small inflation rise. Your weekly digest of the latest business news.
The O’Neill government seeks legal advice on the Nautilus ruling and other local and international stories.
Commodities prices have been sold off heavily over the past week on worries that the global economy will slow. What does this mean for Papua New Guinea’s agricultural producers?
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