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Despite its special characteristics, Cameroonian cocoa is bought cheaper than Ghanaian and Ivorian’s, the NCCB says

Despite its special characteristics, Cameroonian cocoa is bought cheaper than Ghanaian and Ivorian’s, the NCCB says
  • Comments   -   Wednesday, 02 September 2020 15:45

(Business in Cameroon) - Despite its special characteristics, Cameroonian cocoa (renowned for its unique reddish color, peculiar flavor due to the agroecological specifications of the ground in which it is produced, its cocoa-butter content) is purchased at a less price than Ghanaian and Ivorian cocoa in international markets, according to the National Cocoa and Coffee Board (NCCB).

The NCCB explains that this situation was due to the uncertain quality of the cocoa beans sold by producers on international markets. Therefore, Cameroonian cocoa is purchased at a price XAF100 below the average while a premium of XAF180 and XAF50 is offered for the beans sold by Ghana and Côte d’Ivoire respectively.

This means that Cameroonian cocoa is bought at a price XAF280 below the average prices for Ghanaian cocoa and XAF150 below that of Côte d’Ivoire,” the NCCB comments in a note it prepared for a meeting with the Ministers of Trade and Agriculture today September 2, 2020.

The board adds that the losers in this situation are all of the operators in the sector, including the state and producers (who receive residual prices).

Official sources informed that during the meeting planned for today, the cocoa board will suggest a set of measures to be implemented in collaboration with actors to address the problem.

BRM

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