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.