Jakarta, CNBC Indonesia – The Jembrana Cocoa Foreign Exchange Village, Bali, represented by the Kerta Semaya Samaniya (KSS) Cocoa Cooperative won the 2023 Cacao of Excellence Silver Award in Amsterdam, the Netherlands, in early February. This prestigious award in the cocoa industry is recognition of the excellence and quality of cocoa beans from Jembrana, Bali.
Award It is hoped that this will spur transformation in the cocoa sector by rewarding excellence, connecting farmers with markets, and promoting innovation and standards. For the Jembrana Cocoa Foreign Exchange Village, this recognition provides visibility for their work and the quality of their cocoa, as well as increasing the value of their efforts in sustainable cocoa farming practices.
“We are very proud to receive the Silver Award from the Cacao of Excellence Awards. This achievement confirms our commitment to producing high quality cocoa and contributing to promoting sustainable cocoa production,” said Jembrana Cocoa Foreign Exchange Village Trustee, Agung Widiastuti, quoted Monday (26/2/2024 ).
After a rigorous evaluation process, the top 50 nominees qualify for Gold, Silver and Bronze Awards. Meanwhile, the Indonesian Export Financing Institute (LPEI) or Indonesia Eximbank, also continues to encourage the Foreign Exchange Village program as a mentoring forum to be able to penetrate the world export market.
As the Ministry of Finance's Special Mission Vehicle, LPEI focuses on increasing the capacity and competence of business actors. Apart from that, LPEI is also trying to build a solid export ecosystem, one of which is the Jembrana Cocoa Foreign Exchange Village, Bali.
Head of the LPEI Consulting Services Division, Ilham Mustafa, said that LPEI continues to encourage the Foreign Exchange Village program as a mentoring forum to be able to penetrate the world export market. This is part of LPEI's efforts to implement ESG by building a solid and sustainable export ecosystem.
“LPEI also pays attention to the multiple benefits created for the economy, society and the environment from the capacity building carried out by business actors in the Foreign Exchange Village program,” he said.
Jembrana Cocoa Foreign Exchange Village is the first Foreign Exchange Village to receive assistance from LPEI since 2012. Cocoa farmers in Jembrana receive assistance and training to produce quality cocoa products and penetrate the export market. The Jembrana Foreign Exchange Cocoa Village is known worldwide as the world's best producer of fermented cocoa beans according to the 2017 Cacao of Excellence version.
On a separate occasion, Market Intelligence & Lead Chief Specialist LPEI, Rini Satriani, said that Indonesian cocoa commodities and processed products have a competitive edge driven by good taste quality. Indonesian cocoa also has a texture that does not melt easily which is very much needed in the chocolate processing industry, as well as the cosmetics and pharmaceutical industries.
“For example, the Kerta Semaya Samaniya Cooperative in 2023 recorded successful exports worth IDR 1.5 billion to destination countries Belgium, France, Italy and Japan,” said Rini.
Jembrana cocoa beans have a unique aroma and taste, with a texture that does not melt easily, making them a superior export commodity. Sustainability and innovation are the keys to increasing Jembrana cocoa production amidst high world demand and limited global cocoa supply.
For your information, the potential of cocoa commodities based on data from the Central Statistics Agency (BPS) shows that Indonesia is the 12th ranked exporter in the world for cocoa commodities and processed products, controlling 2.29% of the world export share in 2022 (USD 55.10 billion). In terms of global prices, the price of Cocoa Beans has reached a very high level.
Bloomberg data shows that the price of cocoa beans has reached US$ 5,798 per metric ton in early February 2024, so there is not much room for price increases, even in the midst of a limited supply situation from West Africa. Crop failures in Ivory Coast and Ghana due to bad weather, namely extreme rain, caused the spread of fungal infections. Indonesia is the 12th ranked exporter in the world for cocoa commodities and processed products, controlling 2.29% of the world export share in 2022 (US$ 55.10 billion).
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