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LATEST FIJI BUSINESS NEWS....................

Swedish to assist cocoa industry
Wednesday September 20, 2006

Fiji could see a revival of its cocoa industry following a visit by a Swedish non-government organisation Cocoa Bello to work out a cultural and knowledge exchange.

Swedish project manager Fabian Rimfors is currently making preparations with Fiji sister group, Tailevu Province Cocoa Growers and Producers Co-operative Association Limited for an exchange project.

In a joint statement, the two organisations said the exchange project, "Cocoa - from farming to retailing' aimed to create a greater understanding of the need of a sustainable cocoa cultivation and fair trade within the cocoa industry and is supported by SIDA (the Swedish International Development Agency).

The statement said that by the transfer of knowledge in both directions, the hope was to revive the Fijian cocoa industry which has been in decline since the early 1990s and bridge the gaps of knowledge in both countries.

The reciprocal exchange will consist of two delegations, one Swedish and one Fijian, who will visit each country respectively for two weeks. The delegations are comprised of representatives from the cocoa industry (and related industries) in both countries and will cover the whole process of chocolate manufacturing from farming to retailing.

The exchange will take place during 2007 and preparations in Fiji by Cocoa Bello will continue until September 22.

Tailevu Province Cocoa Growers chairman Jovesa Serulagilagi told fijilive.com that Fiji continues to export cocoa beans but on a small scale to New Zealand and Australia through a local exporter.

Serulagilagi says that for the past 10 years cocoa production has been declining. At its peak in the early 1980s and 1990s, Fiji had been exporting 200 tonnes of cocoa beans, but has dropped to 30 tonnes a year now.

A disease outbreak, black pods around 10 years ago and a hurricane around the same time badly affected Fiji's cocoa plantations. With no support from government, cocoa production soon declined with many of the 200 farmers stopping cocoa farming altogether. About 30 farmers currently remain.

With the Swedish organisation now in the country, Serulagilagi is hoping that it would help revive interest in the local farmers to go back to cocoa farming.

"I have already started getting a lot of enquiries."

Serulagilagi says farmers could earn a lot more if value adding is done. For example, cocoa beans could be processed to make chocolate drinks which could be sold to local hotels, resorts, restaurants and other places.

Before, farmers sold cocoa beans for $1.90 a kg, but with value adding such as chocolate drinks, it is estimated that farmers could earn up to $100 a kg, says Serulagilagi.



He claims that they have been told that Fiji cocoa is one of the world's best in taste and content.

Fijilive

Sogo store in Suva … Tappoo resort stores and Sogo stores recently merged under one corporate entity as joint venture partners.
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WEEKLY SHARE PRICE MOVEMENTS
2006-09-18
1882 shares were traded in four transactions in two securities. Amalgamated Telecom Holdings Ltd shares opened at $0.99. 930 shares were sold in two transactions (515, 415). The shares closed at $1.00 Fijian Holdings Ltd shares opened at $4.10. 952 shares were sold in two transactions (300, 652). There was no price change. Following the 1 cent gain on market cap giant, ATH, the KSPX Index moved up 0.38% to 165.06.

2006-09-13
8437 shares were traded in six transactions in two securities. Fiji TV shares opened at $5.62. 500 shares were traded in two transactions (462, 38). The shares closed at $5.60, down $0.02. Fijian Holdings Limited shares opened at $4.10. 7937 shares were traded in four transactions (4837, 400, 1558, 1042). There was no change in price.

2006-09-12
550 shares were traded in two transactions in two securities. Foster’s Group Pacific Limited shares opened at $24.99. A total of 50 shares were traded in one transaction. There was no price movement. Fijian Holdings Limited shares opened at $4.10. 500 shares were traded in one transaction. There was no price movement. The KSPX Index remaing unchanged closing the day at 164.44.

2006-09-11
13,300 shares were traded in 14 transactions in 5 securities. Foster’s Group Pacific Limited shares closed at $24.99, down $0.24. The shares opened at $25.23 and 5000 shares were traded in 7 transactions (2000, 2000, 500, 160, 80, 160, 100). Flour Mills of Fiji Limited shares opened at $1.01. 2000 shares were traded in two transactions (1000, 1000). There was no change in price. R B Patel Group Limited shares opened at $1.80. 2500 shares were traded in two transactions (1000, 1500) at the same price. A total of 3200 Fijian Holdings Limited shares were traded in two transactions (1000, 2200). The shares opened at $4.10 and closed at the same price. Amalgamated Telecom Holdings Ltd shares opened at $0.99 and 600 shares were traded at the same price.

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