Cocoa exports net Sao Tome and Principe US$5.3 million in 2009

22 April 2010

Sao Tome, Sao Tome and Principe, 22 April – Sao Tome and Principe netted US$5.3 million from the sale of cocoa in 2009, which accounted for 98.2 percent of the archipelago’s total exports, the National Statistics Institute said.

Figures from INE showed that in dobras, the local currency, the sale of cocoa provided revenues of 88 billion dobras (US$5.3 million), or 20 percent more than revenue in 2008 – 74 billion dobras of US$5.1 million.

The 20 percent rise in value was, according to INE, due to “the price and good quality of the Sao Tome cocoa on the foreign market.”

In terms of quantity, there was a rise of 0.7 percent in the period with cocoa exports rising to 2,727 tons in 2009 as compared with 2,709 tons in 2008.

The list of buyers of Sao Tome cocoa in the period was headed by Portugal and the Netherlands, which purchased US$1.6 million in cocoa each, followed by Belgium, with US$1.1 million, as well as Angola, the Bahamas, France, and Sri Lanka.

Cocoa, which is considered to be the basis of the economy of Sao Tome and Principe, had its biggest harvest in 1909, with 30,300 tons. (macauhub)