Cameroon Takes the Lead of the International Cocoa Council for the 2024/2025 Campaign - Cameroon Trade Hub

Cameroon Takes the Lead of the International Cocoa Council for the 2024/2025 Campaign

Cameroon has recently been elected to the presidency of the International Cocoa Council for the 2024/2025 campaign, a decision that could strengthen its position in the global cocoa market. This election is seen as a recognition of the country's efforts to improve the quality and sustainability of its cocoa production (source: Cameroon Trade Hub).

Cocoa and Coffee Prices

Currently, cocoa prices in the international market are at £4283/T at ICE London, registering a slight increase of 0.16% (source: ICE). In Cameroon, cocoa bean prices are set at 3293 FCFA/kg CIF and 3214 FCFA/kg FOB (source: ONCC). Regarding coffee, the price of arabica is 4183 FCFA/kg FOB, while robusta is priced at 1965 FCFA/kg FOB (source: ONCC).

Situation in West Africa and Cameroon

Cameroon's position at the helm of the International Cocoa Council could have positive repercussions for the entire West African region, which faces increasing challenges regarding sustainability and quality in cocoa production. Cocoa-producing countries such as Ivory Coast and Ghana are also under pressure to comply with new EU deforestation regulations, which could influence market dynamics (source: Reuters).

Cocoa Derivatives

Concerning cocoa derivatives, the prices of cocoa butter and cocoa mass/liquor are also influenced by global market trends. Transformers must monitor these fluctuations to adjust their sourcing strategies. Prices for cocoa butter and cocoa powder are closely linked to bean prices, and any significant variation could impact production costs (source: Barchart.com).

EUDR and Regulation

Cameroon continues to prepare for the EU Deforestation Regulation (EUDR) requirements, although full compliance remains a challenge for many producers. Document preparation is underway, but it is essential for industry players to remain vigilant in the face of growing market demands (source: EUDR Commission).

In conclusion, Cameroon's election to the presidency of the International Cocoa Council represents a strategic opportunity for the country while highlighting the challenges faced by cocoa producers in the current global context.