(Business in Cameroon) - Since 15^th June 2016, farm gates prices for cocoa in Cameroon climbed back up to FCfa 1,500 per kilogram on average. The price of one kilogram of this cash crop increased by FCfa 260 compared to the average price of FCfa 1,240 noted during February.

According to statistics compiled by the Sector Information System (Sif), a project steered by the National Cocoa and Coffee Council (Oncc) and which consists in communicating on a daily basis via text messages the different prices (Fob, Caf, farm gate) to producers; cocoa is even sold at up to FCfa 1,580 per kilogram in some production areas.

The new rise on cocoa prices in Cameroon is explained by the scarcity of the product on the market due to the mid-season, with the new season expected to start from August. Moreover, the rainfall currently registered in some production areas make them inaccessible to buyers.

This scarcity of cocoa on the market is even influencing the country’s global exports, which fell in May, reaching only 3,205 tons; against 5,780 and 7,610 tons, respectively in April and March 2016.

BRM