A former Minister of Agriculture says the current high prices dominating the global cocoa market pose a major opportunity for this country’s cocoa industry, and believes T&T is on “the brink of a remarkable resurgence”.
Pointing to this country’s “a rich heritage of cocoa farming”, former Minister of Agriculture under the People’s Partnership Administration, Dr Devant Maharaj, is urging the authorities to take ensure T&T benefits from the current cocoa boom.
“With cocoa futures hitting record highs, Trinidad and Tobago's cocoa farmers stand to potentially benefit significantly, marking a turning point for the country's cocoa sector. Higher cocoa prices can drive increased profitability for cocoa farmers,” he says in a statement. “The Trinidad and Tobago cocoa industry, known for its fine or flavour cocoa beans, should be preparing to capitalize on this opportunity.”
Cocoa pods from Trinidad and Tobago. [Image by Luke Smith via FAO]
Dr Maharaj, whose doctoral research focused on niche marketing of the cocoa industry and the development of innovative approaches for the sustainability of cocoa entrepreneurs, points out that new technological innovations in the global cocoa industry also can be of benefit for local cocoa farmers.
“Brazil's recent adoption and introduction of high-tech solutions, such as automation in cocoa harvesting and advanced irrigation techniques, can provide progressive models for Trinidad and Tobago's cocoa sector to emulate to optimize profitability,” the former agriculture minister notes.
According to Dr Maharaj, T&T now has an unprecedented opportunity to re-establish itself as a leading cocoa producer. He advises:
“Creative support from the Ministry of Agriculture and Ministry of Trade and Industry, as well as the Agricultural Development Bank, can facilitate the optimal capitalization of both high prices and technology.”
During his tenure as agriculture minister, Dr Devant Maharaj oversaw the repeal of the Cocoa and Coffee Board Act (1961), as well as a public-private partnership aimed at rehabilitating T&T’s cocoa sector through innovative chocolate products, which contributed significantly to the revitalization of the domestic artisanal chocolate industry.