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LATEST FIJI BUSINESS
NEWS....................
Cocoa could become a major
industry Thursday September 21, 2006
With right
incentives, the prospects for Fiji developing a major cocoa industry
looks very bright particularly with its good quality cocoa beans,
says a Swedish non government organisation.
Cocoa Bello,
whose purpose is to foster and execute development projects in
developing countries in close co-operation with national and
international institutions and organizations, says Fiji certainly
has the prerequisites to succeed.
"If the right incentives
are taken and the cocoa industry gets the right stimulation the
prospects look very bright," Cocoa Bello project manager Fabian
Rimfors says.
"Fiji's opportunities lies in the unexploited
market of high quality processing of cocoa," he added.
Fiji's cocoa industry has been on the decline since the
early 1990s. At its peak, Fiji had been exporting 200 tonnes of
cocoa beans, but that 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 ceasing cocoa farming altogether. About 30
farmers currently remain.
Cocoa Bello is currently working
together with the Fiji sister group Tailevu Province Cocoa Growers
and Producers Co-operative Association Limited in a cultural and
knowledge exchange project within the cocoa industry.
The
project "cocoa - from farming to retailing", aims 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
(Swedish International Development Co-operation Agency).
According to Rimfors, imported chocolate in Fiji is
generally of low quality and has poor nutritional value.
"Manufacturing Fijian made chocolate of high quality and
high nutritional value by utilizing already available Fijian
resources offers a better alternative to imported ones."
Rimfors says that Fiji has several different varieties of
cocoa, some of which are of very good quality. "So currently there
is no need to bring in new varieties."
He says the idea is
to manufacture drinking chocolate using traditional methods which
keeps the natural composition of the cocoa beans intact and
nutrients high, without adding artificial components.
Rimfors says that currently they will be concentrating on
already existing cocoa plantations in the Tailevu area where there
are many farmers, but of which the majority have dormant cocoa
plantations.
On marketing, Rimfors says that distribution is
in the future "but different products in different packaging address
different markets, and thereby covering much of the plausible
market."
Rimfors says the main reason for the project, is to
provide cocoa farmers and their co-operative with the knowledge they
lack of processing and marketing products made from their commodity.
On how much investment would be needed to get the industry
back on its feet. Rimfors says all it needs, is basically just time
and interest from the involved parties.
"We supply the
knowledge and Fiji the resources."
Rimfors says Cocoa Bello
aims at integrating the principles of sustainable development with
competitive production by contributing with transfer of knowledge
and international exchange of experiences.
How this industry
fares, remains to be seen.
Fijilive
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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.
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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.
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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.
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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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