New Ireland Development Corporation (NIDC), through its Malagan Agriculture Limited subsidiary on Tuesday 27th October 2026 launched the Cocoa Buying Point at RMI Power Road Kavieng. The project is being undertaken in partnership with RMI and Agmark Limited under the Chan-Kolivos Government, with the aim of reviving market access and streamlining the cocoa supply chain from farmers to market and export channels.
NIDC Chairman Mr. Benjamin Kimbe said the Cocoa Buying Point represents a strategic step to strengthen the cocoa industry.
In a kickoff update, RMI Manager Shaun Wong reported that the Buying Point has already begun operations, with 70 bags of cocoa received as of this morning. He noted that farmers will be paid instantly via their bank accounts, ensuring prompt and reliable compensation. The current price stands at K1,360 per bag, a benchmark intended to support sustainable farming livelihoods.
Mr. Kimbe described the initiative as a strategic milestone for the organization and the communities it serves.
“Farmers are the backbone of this industry. This is an historical occasion and long time coming for our people,” he stated. Farmers no longer will travel to Kokopo to sell their cocoa. The Cocoa Buying Point aims to improve convenience, reduce transport costs, and strengthen market confidence in NIP.
Governor Byron Chan, delivering the keynote address, commended NIDC’s efforts and highlighted the rapid progress made in just eight months, urging farmers to take advantage of the opportunities now available to strengthen agriculture and local economies.
The launching of Cocoa Buying Point Launching compliments NIDC’s K250, 000 Copra Buyers Subsidy Program launched in July where 50 local buyers (5 per LLG) received K5,000 in working capital for copra buying.
The Chan-Kolivos is supporting Agriculture as a means for people to survive during good and bad times.
