(Business in Cameroon) - During the 2018-19 cocoa season, Cameroon could lose between 60,000 tons and 100,000 tons of local production due to the ongoing crisis in the Anglophone regions. According to the national inter-employers’ group (Gicam), this would translate into a CFA78-130 billion loss in export revenues (foreign currency) including CFA49-81 billion loss in South-West’s producers’ incomes.
In its recent report on the crisis’ impact on economy, Gicam revealed that the South-West region which was the main cocoa output provider, would see a significant drop by 43,000 tons (45.45% to 32%) in production. This implies a CFA56 billion loss in export revenues (foreign currency).
With regards to losses in direct revenues for producers in this region, they total CFA35 million over the period. Gicam noted another loss of CFA3 billion in premium to farmers.
“Losses will be significant in the next seasons even though the crisis gets stabilized because many plantations have been abandoned and most production equipment are destroyed,” the group warned.