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Yaoundé - 05 October 2022 -
Agriculture

PHP reports higher banana exports in Q1 2022, despite a sluggish environment

PHP reports higher banana exports in Q1 2022, despite a sluggish environment
  • Comments   -   Tuesday, 12 April 2022 03:18

(Business in Cameroon) - Banana exporters in Cameroon sold a total of 57,573 tons during the first three months of 2022. Compared to the 54,900 tons sold in the first quarter of 2021, this makes an increase of 4.8% YoY.

This performance is, according to data from the Cameroon Banana Association (Assobacam), driven by Plantations du Haut Penja (PHP), which is the only local producer that experienced an increase in its exports over the period. Assobacam revealed that PHP alone exported 49,088 tons of bananas in Q1 2022, up 3,566 tons from the 45,522 tons in Q1 2021. The other two banana producers in the country saw their exports decline during the period.

Cameroon Development Corporation, which has been slow to recover from the Anglophone crisis, exported 4,591 tons at the end of March 2022, down 726 tons compared to 5,317 tons at the end of March 2021.

Exports within Boh Plantations Plc (BPL) also dropped to 3,894 tons of bananas in Q1 2022 from 4,061 tons in Q1 2021. This represents a decline of 167 tons YoY for the third-largest banana producers in Cameroon.

Fairtrade

Being the only Fairtrade certified banana producer in Cameroon, PHP collected significant revenues with the increase in banana prices decided by the certification body. In October 2021, Fairtrade International decided to revise upwards the minimum prices charged in banana exporting countries involved in its fair trade system. Under this framework, since January 1, 2022, exports of bananas produced by the local subsidiary of Compagnie fruitière de Marseille have increased from €8.75 to €9.3 per standard box (18.14 kg), if the producer himself is an exporter of his merchandise (FOB price); and from €6.45 to €6.8 (ex-factory price or EXW), if the producer goes through intermediaries to export.

Brice R. Mbodiam

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