(Business in Cameroon) – The launching ceremony of the 2024-2025 cocoa season in Cameroon took place on August 8 in Mvengué, a town in the South region’s Ocean Department. This occurred as the cocoa sector was enjoying an exceptionally favorable economic climate, with cocoa bean prices soaring to unprecedented levels.
“This season continues the momentum of the last, marked by an unprecedented rise in prices and the solidification of Cameroon’s position as a reference for quality cocoa and substantial compensation for producers, who are now among the best-paid globally,” said Minister of Trade Luc Magloire Mbarga Atangana when announcing the season’s start on August 6.
Cocoa prices have surpassed CFA5,000 per kilogram, a historic high according to officials. “All indicators point towards either an improvement or at least the preservation of these gains, thanks to the regained and recognized quality of Cameroonian cocoa beans, now highly sought after by the world’s top chocolate producers, and a notable imbalance between reduced supply and rising demand,” the minister added. He urged stakeholders in the cocoa sector to continue their efforts to maintain and enhance the quality of Cameroonian cocoa while strengthening the product’s brand image on the international market.
According to the National Institute of Statistics (INS), cocoa bean and derivative exports generated total revenue of CFA512 billion in 2023, up 10.4% from CFA463.6 billion in 2022. In detail, 180,095 tons of raw cocoa beans were exported in 2023, a decrease of 55,445 tons compared to the previous year, generating revenues of just over CFA359 billion. This figure represents a 12.9% increase from the prior year and accounts for 12% of Cameroon’s total export earnings in 2023.
Additionally, 73,236 tons of cocoa derivatives were sold on the international market, including 49,411 tons of cocoa paste and 23,825 tons of cocoa butter. These sales brought Cameroon total revenue of CFA153 billion. Cocoa paste exports generated CFA97.4 billion, up 19% from the previous year, while cocoa butter sales brought in CFA55.5 billion, marking a 3% decline.
