(Business in Cameroon) - Palm oil production in Cameroon could suffer a significant setback in the second quarter of 2023, according to the forecasts of the Bank of Central African States (Beac). Behind this poor performance, Beac found the high cost of inputs brought about by the ongoing Russia-Ukraine war, which has paralyzed supply networks.
Before this update, the central bank first projected the whole-year production to be 425,000 tons in its Composite Commodity Price Index (CCPI) report. A lower output would imply that Cameroon will once again import additional quantities to meet local demand.
However, the rehabilitation of the palm oil plantations of Cameroon Development Corporation could be a glimmer of hope. As a reminder, the company has long been out of business due to the ongoing Anglophone crisis in the NoSo regions, where most of its plantations are located. Today, upon a return to calm, the government seeks to rehabilitate 1,550 hectares of palm plantations and boost the activities of the state-owned company. The project is expected to swallow nearly CFA3 billion.