New Guinea Islands Produce Company Ltd. (Papua New Guinea)

The Company is a diversified business mainly involved in plantations and cocoa trading. It is the largest domestic producer and exporter of cocoa in Papua New Guinea. The Company is also involved in real estate business where they have an extensive portfolio of property ranges from rural acreage, commercial and retail to high covenant housing. This portfolio of property covers most of the major centres in Papua New Guinea.
The Company also have commercial operations which services their rural market. This includes hardware, machinery, and agricultural centres located at Rabaul, Talina, Kimbe, Lae and Madang and other locations.
In addition, the Company also provide land and sea transport operations. It has a fleet of seven ships designed to service the island communities of Nuigini Islands. Its land transport services are based on a fleet of vehicles operating out of Kokopo (East New Britain) and Lae. The Company also have an engineering and steel fabrication services which specializes in the manufacturing of cocoa/copra driers and rural/agricultural supplies.
HISTORY
The Company originated from the Tolai Cocoa Project (TCP), which was established in 1955 at the behest of four Tolai Local Government Councils. The company was set up as a co-operative buying venture to by small holder cocoa on East New Britain. It was a large venture operating 18 fermentries and processing 1510 tonnes of dry cocoa in 1965. The TCP was strongly supported by the Australian Administration through loan guarantees and secondment of staff.
In 1968 it was estimated to process 60 of all smallholder cocoa but from this time onwards its share declined with the advent and growth of traders, particularly Chinese traders.
The Company was incorporated in 1971. It has 3850 shareholders of whom 2970 live in East New Britain Province and the remainder are spread throughout Papua New Guinea.
The Company is listed in POMSOX with code NGP .