Papua New Guinea has a global reputation of producing some of the highest quality cocoa in the world. The Cocoa Board of Papua New Guinea is the mandated organization in charge of regulation and policy of Cocoa as an agriculture crop. Cocoa is the third most important source of village agriculture income, after Coffee and fresh food. The Cocoa Board of Papua New Guinea is mandated by the Cocoa Act 1981 and Cocoa Regulations 1982 to control and regulate the cocoa industry. Since the amalgamation of the Cocoa Coconut Institute Limited (CCIL) following the Functional Expenditure Review in 2015, the Board has also taken on the role of Research, Extension and Development. The Board licenses cocoa/cacao dealers and traders to ply their trade in the industry and normally takes a laissez-faire approach to the industry as long industry players conform to the regulations and conditions as stipulated on their licenses and the Cocoa Act 1981 and Cocoa Regulations 1982.