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Yaoundé - 22 April 2021 -
Economy

Cameroon to distribute XAF774 mln of cocoa premiums to encourage the production of quality beans

Cameroon to distribute XAF774 mln of cocoa premiums to encourage the production of quality beans
  • Comments   -   Thursday, 25 March 2021 13:05

(Business in Cameroon) - On March 23, 2021, in the Mbam-et-Kim cocoa production area, Minister of Commerce Luc Magloire Mbarga Atangana launched the distribution of premiums to producers to encourage the production of the Grade 1 cocoa highly prized by cocoa processors and chocolate-makers.

According to the Ministry of Commerce, a XAF70 premium will be distributed per kilogram of grade 1 cocoa for the 2017-2018 cocoa campaign; XAF774,025,721 will be distributed to 5,239 producers all over the country for 10,301,766 kilograms produced during the season.

"The amount to be received by each producer ranges between XAF11,000 and 1,800,000," the ministry adds. The 90 beneficiaries of the Mbam-et-Kim areas received XAF13 million. Also, the distribution will end on April 27, 2021.

According to Minister Mbarga Atangana, the distribution of the premiums is in line with the Head of State’s decision to mitigate the impact of the drop in cocoa prices that occurred during the 2016-2017 season. At the time, a series of measures were adopted, including the introduction of a quality premium for farmers, the acceleration of the construction of cocoa centers of excellence as well as a reduction (by half) of the cocoa export tax.

Sylvain Andzongo

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