Cameroon Secures Favorable Cocoa Purchase Contract

Cameroon’s Minister of​ Trade, ⁢Luc Magloire ‌Mbarga⁢ Atangana, announced a significant development for the country’s cocoa sector on ⁤September⁣ 18, 2024. A⁤ cocoa purchase contract has been established at a farm gate​ price of 5,200 FCFA/kg.

This agreement with a major player in the global chocolate industry marks a substantial step forward in promoting Cameroonian cocoa on the⁢ international market.

A Boost to the 2024/2025 Cocoa​ Campaign

The announcement comes shortly after ⁢the launch of the 2024/2025 cocoa campaign, which began on August 8,‌ 2024. The National Cocoa and ⁤Coffee Office (ONCC) has noted an increase ‍in production compared to the previous campaign.

Encouraging Producers to⁢ Strive‍ for Excellence

Luc Magloire Mbarga Atangana⁢ urged producers ⁤and their⁢ organizations to draw inspiration from‌ this partnership model, which could lead to ‌better payment. He emphasized the ​need to produce high-quality cocoa, without defects, to guarantee the sustainability⁤ of the achievements obtained during the ⁤last campaign.

A Promising Revival ⁢for the Sector

During the 2023/2024 campaign, Cameroon recorded a​ production of 266,725 tonnes of cocoa, representing a 1.17% increase compared to the previous year.⁤ Exports​ reached 185,613 tons, ⁣generating revenue of 265.3 billion FCFA, or approximately 815 million dollars, a significant increase of 84%‍ compared to the previous season.

This growth is mainly attributed to the⁢ increase ⁤in international cocoa prices,​ which enabled farm prices to exceed 6,300⁤ FCFA/kg, a significant improvement compared to 1,290 FCFA/kg the previous season. This development could signal a‌ promising revival for the sector, strengthening Cameroon’s position ​in the global cocoa market.