The coffee industry has made a staggering K590 million in revenue this year, the Coffee Industry Corporation expects another K100 million in the last quarter of this year.
Today a small coffee cooperative from Boana in the Morobe Province celebrated its first coffee export under its own export license.
Coffee Industry Corporation, Chief Executive Officer, Charles Dambui attended the event that marked a significant milestone for a rural cooperative that was built by the people.
Neknasi’s story never fails to inspire: they are the first cooperative to export coffee under their own license. They had arrived at this stage by achieving, step by step, a government policy, that promotes coffee from rural farmers selling directly to overseas buyers.
Coffee Industry Corporation, Chief Executive Officer, Charles Dambui says the cooperative has become a model that the organization uses to expand the Tree-to-Cup Policy throughout the country.
Neknasi chairman, Mong Bungun says the cooperative will now deal with dollars and not with kina.
The chairman’s comments come when the country needs the dollars because of a looming foreign currency crisis.
Coffee has made K590 million kina in revenue in the last three quarters the industry is expected to generate K100 million kina more before the year ends.