As cocoa prices soar globally, the cocoa industry in Trinidad and Tobago can be poised for a transformative resurgence. With cocoa futures hitting record highs, Trinidad and Tobago’s cocoa farmers stand to potentially benefit significantly, marking a turning point for the country’s cocoa sector.

This surge in cocoa prices presents Trinidad and Tobago with an unprecedented opportunity to reestablish itself as a leading cocoa producer. With a rich heritage of cocoa farming and a commitment to innovation, Trinidad and Tobago’s cocoa industry is on the brink of a remarkable resurgence.

The Trinidad and Tobago cocoa industry, known for its fine or flavourful cocoa beans, should be preparing to capitalise on this opportunity.

Despite facing challenges in recent years, such as low production, the industry with this boost in prices can be primed for revival. Higher cocoa prices can drive increased profitability for cocoa farmers.

Brazil’s recent adoption and introduction of hightech solutions, such as automation in cocoa harvesting and advanced irrigation techniques, can provide progressive models for Trinidad and Tobago’s cocoa sector to emulate to optimise profitability. Drawing inspiration from the tech innovations implemented in Brazil, Trinidad and Tobago’s cocoa industry should be encouraged to embrace this new cutting-edge agricultural technology. Creative support from the Ministry of Agriculture and Ministry of Trade and Industry as well as the Agricultural Development Bank can facilitate the optimal capitalisation of both high prices and technology.

As minister who repealed the archaic Cocoa and Coffee Board Act (1961) and had oversight of a public-private partnership aimed at rehabilitating T&T’s cocoa sector through innovative chocolate products that contributed significantly to the revitalisation of the domestic artisanal chocolate industry, the increase in global cocoa prices is a potentially pivotal moment for the industry.

Dr Devant Maharaj