Improved Market Access for Cocoa in Vanuatu
Vanuatu is building a good reputation in the niche cocoa market. This market study confirms that there are significant price premiums for good quality, smoke free cocoa beans from boutique buyers in Australia and New Zealand, as well as from the Asian grinding market. Major issues for Vanuatu cocoa are the poor quality of beans and the lack of diversity of end buyers. Exporters would benefit by segregating smoke free and better quality beans and seeking a higher price. While Vanuatu builds its reputation in the market, it is recommended that exporters contact multiple cocoa buyers to introduce further price competition into the bulk market, and thereby diversify their customer base and potentially increase their current bulk market contract pricing. The boutique market will only ever support a small percentage of Vanuatu’s cocoa growers and it is therefore essential to invest in the country’s bulk cocoa exporters.