20 Nov 2007

Cocoa export company to be set up in PNG's Morobe province

11:05 am on 20 November 2007

In Papua New Guinea the Morobe provincial government and the National Development Bank are setting up a cocoa export company for local farmers.

The newspaper, The National, reports cocoa producers would export their cocoa produce through the company.

The Bank's managing director Richard Maru handed over the land title of the old Kesu plantation to the provincial government last week.

The provincial government had acquired the title after completing the US$150,000 payment for the property.

Qualified cocoa growers will also be given small loan capital by the bank.