General News
24 March, 2026
Time ripe for cocoa on coast
AS global cocoa supply shortages continue, Australian Cocoa is hoping to scale up the emerging premium cocoa industry, with Far North Queensland the target for an important cocoa growing region.
A $20 million capital raise has launched to acquire and expand an existing cocoa plantation, buy land for further plantation expansion, increase nursery capacity and upgrade processing capability to meet growing demand for premium, traceable and ethical cocoa.
Jim McKerlie, founder and executive chair of Australian Cocoa Limited, said investor appetite was strong as cocoa faced significant supply constraints and experienced significant upward price movement.
The demand for chocolate continued to enjoy strong growth especially for premium products that were ethically produced and where provenance of cocoa was proven.
“This is a once-in-a-generation opportunity to build a new premium food industry in Australia,” Mr McKerlie said.
“Extensive trials and several successful small producers have demonstrated cocoa can thrive in FNQ. With Australia’s horticultural expertise, we can build a reliable, sustainable supply of high-quality cocoa for domestic and Asia-Pacific markets.”
While cocoa is a long-established global market, production in most overseas regions still relied on traditional, low technology farming in contrast to Australia’s highly mechanised and research-driven approach to agriculture.
The $20 million raise would allow the group to fund a three-year growth strategy. It has secured a long-term management agreement with Charley’s Chocolate and retained several industry experts involved in FNQ cocoa.
The group would acquire and develop over 300 hectares of cocoa plantation in the region. The funding would also support industry promotion and development in partnership with CACAO, the Australian Cocoa Industry Association.
“We aren’t starting from scratch, we have acquired a strategic foothold and have assembled people who have extensive experience in cocoa in the region.” Mr McKerlie said.
“Australia imports $1.5 billion of cocoa products each year and produces very little locally. With the region geographically within the global cocoa belt, our advanced research and demonstrated horticultural capability, Australia is uniquely positioned to provide a secure, premium cocoa supply to the growing Asia-Pacific market.”
Aligning with AgriFutures National Cocoa Strategy In 2022 AgriFutures Australia produced the Australian Cocoa Strategic RD&E Plan (2022-2027) that has identified the future for the industry.
Read More: Far North