Cameroon: Cocoa prices surge to CFA1,700 per kg in third consecutive hike

Agriculture

Cameroon: Cocoa prices surge to CFA1,700 per kg in third consecutive hike

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- Wednesday, 20 September 2023 13:03

(Business in Cameroon) - A third consecutive increase in just two weeks brought cocoa farm gate prices in Cameroon to CFA1,700 for the upper cap and CFA1,600 for the lower limit.

As a reminder, on September 6, a day before the official launch of the 2023-24 campaign, the maximum price reached CFA1,500 per kg; the first time in 2 years. The sector information system (SIF)- a price alert system run by the National Cocoa and Coffee Board, said this trend is surprising as it occurs during the rainy season, a period when prices usually fall due to the poor state of access roads.

This good start bodes well for the whole season, especially with the arrival of a new operator, namely Africa Processing, in the processing segment. Consequently, market competition is expected to intensify.

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