Economy

Minister urges farmers to maintain standards as cocoa hits 4,225 FCF per kilogram.

Cocoa beans being dried for sale

The Minister of Trade, Luc Magloire Mbarga Atanga, has urged famers, particularly women and youth, to maintain best practices as the price of a kilogram of dry cocoa beans in Cameroon has again reached yet another historic retail value of 4,225 FCFA. The minister made the call in a recent release after a recent community sale of cocoa in Abong Mbang in the East Region, confirmed the new price of a kilogram in the country.

In the release, the member of government said the achievement is in recognition of the quality of Cameroon’s cocoa and all what government is doing to keep the sector attractive.

He said given that cocoa is cultivated in eight of the country’s 10 regions, the new boom is a call for farmers in the sector to keep the steam alive to reap more. Minister Mbarga Atangana said the dynamism, courage and resilience must also be saluted.

The minister said such soaring prices tie to the political transformation agenda of the government to make Cameroon’s economic competitive with contributions from the agricultural sector.

The dynamics in the world cocoa market have also been linked to the devastating effects of climate change in Cote d’Ivoire and Ghana.

OMC : le Cameroun élu à la vice-présidence de la Conférence ministérielle — **Luc Magloire Mbarga Atangana: Minister of Trade**

The two countries which are among the world’s best cocoa producers have experienced droughts across cocoa plantations, resulting in a sharp decline in production.

According to the International Cocoa Organisation, global cocoa production has suffered an 11 percent drop in the 2023/2024 farming season. The situation is expected to continue for the next two years.

With the coming of three new companies viz; Atlantic Cocoa, Neo Industry and Africa Processing, the demand has also been made complex with the firms working to step up the local processing of cocoa beans. Since the start of this year, cocoa has been the most performing agricultural commodity in the world market as demand continues to outpace supply.