Yaoundé - 09 December 2023 -

Cocoa price peaks at CFA2,000 per kg in Cameroon, its 7th increase in 3 months

Cocoa price peaks at CFA2,000 per kg in Cameroon, its 7th increase in 3 months
  • Comments   -   Wednesday, 15 November 2023 03:16

(Business in Cameroon) - The price ceiling for cocoa beans in Cameroon has peaked at CFA2,000 since November 10. This is the 7th increase in three months. On November 7, the price was still CFA1,930 FCFA, data from the sector information system (SIF) showed. The minimum price is now CFA1,925, up CFA75 from the previous limit.

This 7th increase in bean prices confirms that Cameroonian growers are among the best paid in the world. The new prices are slightly lower than the "special price of CFA2,015 per kg" offered to producers by the beans crusher Atlantic Cocoa on November 8, 2023, according to the trade minister. He was speaking during a group auction in Batschenga, a production area in the Central region.

The continuous increase in cocoa prices in Cameroon signals a promising 2023-2024 season for producer earnings. However, it also highlights a competition between exporters and local processors for beans control, as the available quantities struggle to meet the demands of all industry participants.

With major international traders affiliated with exporters making substantial purchases, the local processing market has witnessed the entry of three new crushers (Atlantic Cocoa, Neo Industry, and Africa Processing) in less than three years, boasting a combined capacity of around 100,000 tons. Some of these operators are willing to drive up beans prices to ensure the smooth operation of their factories, which often face shutdowns due to a shortage of raw materials.

Cameroon’s President Paul Biya opposes the privatization of the country’s incumbent telecoms operator, Camtel. The decision was the subject of a letter...
Cameroon’s PM Joseph Dion Ngute announced the government’s plan to build 550 new housing units in the cities of Douala and Yaoundé next year. He was...
On December 1, 2023, a committee in Douala, Cameroon, selected the name for the inaugural stock index of the Central African Securities Exchange (Bvmac),...
From 2019 to 2022, nations in the Economic Community of Central African States only captured 6.3% of Cameroon's exports, well below the 10% and nearly...

Mags frontpage

Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer

Albert Zeufack: “Today, the most important market is in Asia”

Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir

Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »