https://en.sputniknews.africa/20241010/cameroons-cocoa-exports-plummet-by-71-amid-rising-prices-and-industry-optimism-1068635219.html
Cameroon's Cocoa Exports Plummet by 71% Amid Rising Prices and Industry Optimism
Cameroon's Cocoa Exports Plummet by 71% Amid Rising Prices and Industry Optimism
Sputnik Africa
The cocoa market is experiencing upheaval with prices nearing record highs, driven by challenges like climate change and inadequate payments from market... 10.10.2024, Sputnik Africa
2024-10-10T19:01+0200
2024-10-10T19:01+0200
2024-10-10T19:01+0200
sub-saharan africa
cameroon
economy
cocoa
central africa
prices
crisis
farmers
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In the third quarter of 2024, Cameroon exported only 6,276 tonnes of cocoa beans, a significant 71% decline from the 21,724 tonnes exported in the same period last year, according to figures from the General Directorate of Customs.This sharp drop in volume also came with a decrease in export value by 10.4 billion FCFA ($17.3 million).Despite the plunge in exports, the price per kilogram of cocoa beans surged to an all-time high of 6,000 FCFA ($10) in 2024. The reasons for the export downturn have not been officially stated, though the price hike and market dynamics may be contributing factors, according to reports.However, local media reported that during the 2024-2025 cocoa campaign launch, Minister of Commerce Luc Magloire Mbarga Atangana expressed optimism, highlighting the improved quality of Cameroonian cocoa, which is now recognized globally. He urged industry stakeholders to continue enhancing the cocoa’s quality and reputation.
https://en.sputniknews.africa/20240819/cocoa-prices-unlikely-to-fall-much-this-year-despite-higher-production-media-says-1067918011.html
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cameroon, economy, cocoa, central africa, prices, crisis, farmers
cameroon, economy, cocoa, central africa, prices, crisis, farmers
Cameroon's Cocoa Exports Plummet by 71% Amid Rising Prices and Industry Optimism
Christina Glazkova
Writer / Editor
The cocoa market is experiencing upheaval with prices nearing record highs, driven by challenges like climate change and inadequate payments from market players to farmers. At the same time, production is declining because of severe weather, Swollen Shoot Virus Disease, and shortages of pesticides and fertilizers.
In the third quarter of 2024, Cameroon exported only 6,276 tonnes of
cocoa beans, a significant 71% decline from the 21,724 tonnes exported in the same period last year, according to figures from the General Directorate of Customs.
This sharp drop in volume also came with a decrease in export value by 10.4 billion FCFA ($17.3 million).
Despite the plunge in exports, the price per kilogram of cocoa beans surged to an all-time high of 6,000 FCFA ($10) in 2024. The reasons for the export downturn have not been officially stated, though the
price hike and market dynamics may be contributing factors, according to reports.
However, local media reported that during the 2024-2025 cocoa campaign launch, Minister of Commerce Luc Magloire Mbarga Atangana expressed optimism, highlighting the improved quality of Cameroonian cocoa, which is now recognized globally. He urged industry stakeholders to continue enhancing the cocoa’s quality and reputation.
