(Business in Cameroon) - Last March 29, in Bastchenga, Lékié (in the Centre region), Minister of Commerce Luc Magloire Mbarga Atangana distributed XAF115.6 million to 1,471 cocoa farmers as premiums for producing Grade 1 cocoa during the 2018-2019 season. According to the official, Lékié is the first beneficiary in terms of the number of beneficiaries and second in terms of the volume of the premiums distributed for the said season.
In the 2017-2018 season, some of the producers in the region received premiums as high as XAF4 million, we learn. Therefore, the Minister of Commerce advised them to improve their performance and to jealously guard their leadership position.
In the country, the cocoa premiums are being distributed to 5,239 cocoa farmers (the Lékié Famers included) for producing 10,301,766 kilograms of grade 1 cocoa during the 2018-2019 season. The overall volume of premiums to be distributed is XAF774 million or XAF70 per kilogram of grade 1 cocoa produced during the said season.
As a reminder, cocoa premiums were instaurated, in 2017, by the government after the drop of cocoa prices in international markets. The aim was to boost farmers' revenues but also encourage them to produce quality cocoa. Currently, only farmers producing Grade 1 cocoa receive the premium.