Global demand for coconut products continues to rise and presents unmatched export potential for the Solomon Islands.
I am fond of buying packaged coconut water at my local Supermarket but until recently I had no idea how the demand for coconut products had grown in the last decade exponentially to 500%.
The demand for coconut products such as coconut water and virgin coconut oil has skyrocketed during the last decade mainly due to their recently discovered health benefits.
Knowing of the success in producing virgin coconut oil in the Solomon Islands, it was encouraging to learn, on investigation, that the global demand for the product is continually rising and anticipated to deliver USD 4.2 billion by 2024.
I know, of course, other value added products from coconut include coconut oil, coconut meat, coconut milk, coconut desiccated powder and coconut flour.
The value of the coconut often referred to as a “super food” and the many derived products obtainable from the coconut, has not been lost on the Papua New Guinea Government which believes its coconut producers should look to meet the huge unmet demand around the world for organic coconut and coconut products.
Developing such a policy, PNG's first Coconut Festival got underway last Saturday in Port Moresby, with speeches from the Deputy Prime Minister, Davis Steven, and the National Planning Minister, Sam Basil.
“The event brought together coconut farmers and companies from all over PNG and Solomon Islands.
“Mr Basil told the festival that there's an unmet demand of 90 percent for coconut products and he said PNG producers should respond to this.
"The potential niche market for organic coconut products is further incentive for growing coconut and processing coconut products, given that all Papua New Guinea coconut is organically grown. It seems to me the market is ready for PNG to increase its supply."
Quotes from Radio New Zealand.
Perhaps, the Solomon Islands might follow PNG’s marketing initiative, if not already planning to do so.
Yours sincerely
Frank Short
