12/05/2024
Agriculture Exports Surge Under Marape Government's Initiatives, Says Dr. Sergie Bang
National Agriculture Research Institute (NARI), Bubia, Lae, May 10, 2024 - At the inaugural Agriculture Minister’s Seminar held at the National Agriculture Research Institute (NARI) in Bubia on May 10, 2024, Dr. Sergie Bang, Secretary of Agriculture, highlighted significant growth in the agriculture sector's export earnings from 2019-2022. This period marks a notable increase under the current Marape Government's intensified focus on agriculture.
Dr. Bang revealed that the average annual export earnings for the years 2019-2022 reached K4.576 billion, compared to K3.379 billion annually from 2015-2018. Detailing the yearly earnings, he noted: 2015 – K2.368 billion, 2016 – K3.340 billion, 2017 – K4.012 billion, 2018 – K3.798 billion, 2019 – K3.409 billion, 2020 – K3.783 billion, 2021 – K5.782 billion, and 2022 – K5.332 billion.
“The emphasis on agriculture by the Marape-Rosso Government, where the policies are right and resources are going to the agriculture sector has yielded increases in our foreign exchange," Secretary Bang stated at the seminar, a key component of the annual NARI Agricultural Innovation Show.
"In the previous four years, from 2015 to 2018, there was a K3.3 billion average annual export, while for the next four years, from 2019 to 2022, we have seen a K4.6 billion average annual export."
“This is a 35 per cent increase in gross domestic product (GDP) generated by the agriculture sector which we can attribute to the positive support of the Marape-Rosso government’s support in terms of both policy and funding,” he added.
Secretary Bang also detailed the sector's contribution to GDP from 2016 to 2021, which averaged 28.1% annually. Specific contributions by year were: 2016 – 30.5%, 2017 – 30.4%, 2018 – 25.9%, 2019 – 20.5%, 2020 – 24.1%, and 2021 – 37.1%.
In addition, he announced the agriculture export figures for 2023, with palm oil leading at 673,000 tonnes, earning K2.495 billion, followed by coffee at 60,171 tonnes earning K803.5 million, cocoa at 40,090 tonnes earning K418 million, rubber at one tonne earning K3.5 million, spices at 300 tonnes earning K591.6 million, and coconut at 39,019 tonnes earning K84.3 million. The total tonnage of agricultural exports in 2023 was 812,581 tonnes, which generated K4.396 billion for Papua New Guinea.