85% of PNG working population are employed in the agriculture sector. Kumul Agriculture Limited (KAL), is a holding company endorsed by Cabinet to oversee all State interests in the agriculture sector of Papua New Guinea. KAL will operate as a wholly owned subsidiary of Kumul Consolidated Holdings (KCH) – all legal titles of agricultural assets, whether held directly or indirectly, will be transferred to KAL; these include: National Plantation Management Agency Limited, Sepik Agro Industries Limited and Central Dairy Limited.
Both KCH and the Department of Agriculture and Livestock will transfer the shares and ownership interest in Livestock Development Corporation Limited together with its functions, management and assets.
The establishment of KAL is endorsed by the Government’s Alotau Accord II that emphasises diversification of the economy through increased investment in agriculture and opportunities for public private partnerships. KAL will identify, assess and where viable invest, in the development of sustainable agriculture projects across PNG. Sustainable agricultural projects will provide employment, local income and welfare development, and eventually contribute to export revenue for the economy.