The Philippine Cacao Industry
The Philippine Cacao Industry is now on the verge of becoming more competitive and sustainable due strong local and global market demand. This has positioned the cacao growers and manufacturers to greater market opportunity and profitability.
It was during the colonial time when cacao was first introduced in the Philippines. Many areas of the country were suitable for cacao production because of the quality of soil and the climate as well. The Philippine Cacao Industry had been the primary producer of cacao beans in Southeast Asia during that time.
According to the Department of Agriculture, the estimated increase of global demand for cacao is between 4.7 million to 5 million metric tons by 2020. It is also predicted that cacao’s global shortage will reach 1 million metric tons in the same year. Read more
In the Philippines, the local consumption is at 50,000 metric tons every year. The local supply is only around 10,000 metric tons.
One of the primary drivers for this demand is the increasing number of cafes and restaurants offering chocolate drinks.
Moreover, another opportunity for cocoa is the trend towards wellness and healthy lifestyle. Its natural contents and health benefits has positioned and marketed cacao as a health food.
The industry of cacao can also provide jobs and livelihood opportunities and promote countryside development. Not only it is less prone to severe fluctuation but also requires low start-up cost.