(Business in Cameroon) - On July 12, 2023, Norwegian fertilizer distributor Yara International officially announced the sale of its 65% stake in its Cameroonian subsidiary to the Noutchogoing Jean Samuel (NJS) group. With that acquisition, NJS now becomes the sole owner of Yara Cameroon.
The transaction allows poultry giant NJS to strengthen its position in the local fertilizer market. "To consolidate their collaboration, Yara International ASA and NJS Group have entered into an exclusive distribution agreement for the premium NPK fertilizers YaraMila and YaraLiva Nitrabor Calcium Nitrate. As an essential part of this agreement, Yara International ASA will provide technical and operational support to NJS Group, thus ensuring a strong medium for future growth," Yara indicates.
In Cameroon, the import of fertilizers is highly lucrative since there is no production plants. According to the report on Cameroon's foreign trade between January and September 2022, fertilizers were among the top three products with the highest import expenditures, behind fuels and lubricants, and frozen sea fish.
The document published by the National Institute of Statistics (INS) specifies that during the period under review, fertilizer import expenditures increased by 43.4% year-on-year due to the conflict between Russia and Ukraine. According to data compiled by the INS, fertilizers account for 17% of Cameroon's imports from Russia. This makes Russia the top supplier of these agricultural inputs to Cameroon, holding a 43% market share, compared to only 11% for China.