(Business in Cameroon) - Between 2014 and 2018, Cameroon’s palm oil production recorded a notable rise from 343,000 tons to 413,000 tons, the ministry of agriculture reveals.
For the ministry, this production is closer to the target of 450,000 tons by 2020. It indicates that though the target had been underestimated, the positive performance is due to the actions undertaken in that sector. These are notably the implementation of a palm oil and rubber development strategy, the inclusion of the palm oil sector in the value chain development programme and provision of subsidies to producers.
Indeed, on February 14, 2018, the union of palm oil producers Unexpalm signed an agreement with the government for a program to support fertilization of palm gardens in rural areas. Valued at XAF3.6 billion, the 8-year program is a government initiative to provide subsidized fertilizers to producers. Thanks to this initiative, fertilizer prices have been reduced by 25% and a multi-year perpetuation fund has been set.