According to Spice Sector Board Chief Executive Officer Nelson Simbiken, the country's spice industry has exported K1.3 billion worth of products in the last four years. According to Simbiken, K400 million worth of items were shipped in 2021, much above the norm of over K300 million. “From 2019 to now, revenue from export we have from Customs and Na...

The Asian Development Bank (ADB) and ECOM Agroindustrial Corp. Limited (ECOM) signed a loan of up to $60 million to help sustain the livelihoods of smallholder farmers amid the coronavirus disease (COVID-19) pandemic and improve their ability to withstand the impacts of climate change. The loan will support ECOM’s continued operations in India, Indones...

The K140 million 12-story West New Britain Haus in Port Moresby, according to James Marape, demonstrates that agriculture is "transformational." He remarked this as he unveiled the West New Britain people's landmark emblem, which was supported by the province's lucrative oil palm sector. The Department of Justice and Attorney-General, as well as all...

Photo credit: The Christensen Fund - Markham Valley Agriculture development in the Markham and Ramu valleys of Papua New Guinea's Morobe Province, according to the International Finance Corporation, might result in significant economic advantages. The International Finance Corporation (IFC), which is part of the World Bank Group, has teamed together...

The government intended to implement downstream processing, according to Forestry Minister Walter Schnaubelt, with an emphasis on boosting forestry and plantation. Schnaubelt recently stated in West New Britain that as part of the government's plan to reclaim the forestry sector, investors would only be awarded 50% of export licences. “The new permi...

Mangrove seedlings [Photo credit: Sarangib, from Pixabay] In celebration of World Environment Day last June, there were 600 school children who took part in planting 700 mangrove seeds along the coastline of Riwo, Madang Province. The celebration's theme for this year is "Ecosystem Restoration". The mangrove planting activity was made possible throu...

PNG may be the smallest economy in the Asia-Pacific Economic Cooperation (Apec), but it is rich in natural resources, according to Prime Minister James Marape. He virtually addressed the Apec economic leaders' summit, which was hosted by New Zealand. “Papua New Guinea, in our small way, commit ourselves to preserve 13 per cent of the world’s rainforest...

Photo credit: National Fisheries Authority The National Fisheries Authority (NFA) has provided K5 million as a final transaction for the acquisition of property for a fisheries centre that was in the process of being liquidated. The site at Rabaul, East New Britain Province, has been obtained for a fisheries centre, on which the NFA has begun constr...

According to the National Fisheries Authority, the country's fish and fisheries goods exports exceeded K1.5 billion last year (NFA). This was said by managing director John Kasu during the beginning of the national fisheries judicial conference, which is now taking place in Port Moresby. “The importance of fisheries to Papua New Guinea and the econo...

Photo credit: Lowy Institute The Papua New Guinea Special Envoy and Minister for Environment Conservation & Climate Change, Hon. Wera Mori, MP, says PNG is adamant on ceasing all logging, on a large scale, completely by 2030. He said the collective decision by COP26 to stop deforestation entirely by 2030, is an agenda PNG has always advocated fo...

Photo credit: Department of Agriculture and Livestock According to Oil Palm Industry Corporation (Opic) acting general-secretary Kepson Pupita, the rehabilitation of smallholder oil palm blocks would result in more money being earned. Pupita was recently in Alotau, Milne Bay, to gift Opic workers with a motorcycle and tour abandoned dwellings on pro...

With approximately US$300,000 in funding, technical help, and mentorship support, the European Union (EU) is promoting rural entrepreneurship, investment, and trade programs. It aims to revive the agricultural sector by partnering with private sector innovators such as Agritech, Fintech, supply chain financing, mobile money providers, and other busines...

PM Marape Gives K1.5 Million For Coffee Development in Menyamya . Photo, PNG Government media Hon. James Marape, the Prime Minister of Papua New Guinea, has set aside K1.5 million for coffee development in rural Menyamya, Morobe, which produces some of the best coffee in the country. During his one-day visit to Menyamya Station last week, he reveale...

Madang Province's Pacific Maritime Industrial Zone will be redeveloped to become a regional fish processing centre. The National Fisheries Authority and the Treasury Department are collaborating on the project's development and financing plan. Ango Wangatau, head of the National Fisheries Authority, said the regional processing hub will bring togeth...

The absence of a sectorwide strategic plan detailing the sector's future roadmap has been a significant flaw in the transformation. Chairman of the National Fisheries Authority Ango Wangatau made this comment during the introduction of the NFA's 10-year strategic plan. While annual development programs were driven primarily by the parameters of annu...

Policy changes in agricultural and small-to-medium companies, according to Bank of PNG Governor Loi Bakani, would boost the PNG Kina versus other currencies. Bakani warned stakeholders at a CPA conference in Lae that the country has been missing out on a golden chance for years. He said that the value of the PNG Kina has fallen by 41% between 2012 and ...