Price Hikes for Cameroon Cocoa and Incentive for Producers
Cameroon Cocoa beans prices has seen significant increase over the years, with late 2023 and 2024 witnessing the highest increase with final quarter of 2023 and January 2024 seeing the highest increase at 2000Fcfa and 2500Fcfa respectively.
This rise continues to boost incomes of Cocoa farmers in Cameroon, as other top global suppliers Ghana and Ivory Coast continue to suffer supply shortages. Ghana Port arrivals have seen a constant decrease estimated at 50% over the last 2 years, and Ivory Coast decreased estimated at over 35% with same period.
The continuous increase in cocoa prices in Cameroon signals a promising 2023-2024 season for producer earnings. However, it also highlights a competition between exporters and local processors for beans control, as the available quantities struggle to meet the demands of all industry participants.
Cameroons generally low price for Cocoa beans has for long been a point for attraction for Cocoa beans processing Companies. The entry of Africa Processing, Atlantic Cocoa and Neo Industry into the Cocoa beans processing sector in the last 3 years has increased competition between local processors and exporters, with the local processing Companies setting buying price at 2000frs per kilo to lure producers to sell to them.
However this price increase has been well received by producers across the country who see it as an added incentive to increase production.
