(Business in Cameroon) – Cameroon moved up two places to become the 4th largest cocoa exporter in 2023, capturing 7.6% of the global market. This achievement is outlined in the report on the country’s economic competitiveness published by the Competitiveness Committee, a unit within the Ministry of Economy.
The rise was driven by a 12.7% increase in cocoa exports compared to 2022. Most of Cameroon’s cocoa went to the Netherlands (73.8%), followed by Malaysia (9.4%), Indonesia (8.0%), and Turkey (3.2%).
According to Cameroon’s National Institute of Statistics (INS), the country exported 180,095 tons of raw cocoa beans in 2023, which is 55,445 tons less than in 2022. However, the revenue generated from these exports increased by 12.9% year-over-year, reaching over CFA359 billion. Cocoa made up 12% of Cameroon’s total export revenue for the year.
The increase in revenue was largely due to a 21.2% rise in international cocoa prices. This price surge was caused by reduced production in major exporting countries like Côte d’Ivoire and Ghana, which ranked first and third globally with 33.7% and 11.2% market shares, respectively.
