CICC Launches Program to Promote Local Cocoa Processing in Cameroon

CICC Launches Program to Promote Local Cocoa Processing in Cameroon

The Interprofessional Council of Cocoa and Coffee (CICC) has announced the launch of an ambitious program to encourage local cocoa processing in Cameroon. This initiative aims to strengthen the cocoa value chain, allowing local producers to benefit more from the economic returns of their work. By promoting processing on-site, the CICC hopes to reduce the country's dependence on raw bean exports while creating jobs and supporting the local economy (source: Investir au Cameroun).

Cocoa and Coffee Prices in Cameroon

Currently, cocoa prices in the international market are at £4135/T on ICE London, marking a decrease of 2.48% (source: ICE). In Cameroon, cocoa bean prices are set at 3234 FCFA/kg CIF and 3155 FCFA/kg FOB (source: ONCC). Regarding coffee, arabica is priced at 4311 FCFA/kg FOB, while robusta is trading at 1901 FCFA/kg FOB, the latter having seen a significant drop of 40.85% (source: ONCC).

Situation in West Africa

The cocoa situation in West Africa is marked by significant challenges. Ghana, for example, recently announced a 16% drop in its cocoa production, which could have repercussions on global prices (source: Barchart.com). This decline is attributed to unfavorable weather conditions and diseases affecting crops. In contrast, Cameroon is seeking to secure its position in the European market by complying with new deforestation regulations, which could provide a competitive advantage in the long term (source: Agence Ecofin).

Cocoa Derivatives and Coffee

Regarding derivatives, cocoa butter and powder are increasingly sought after in the market. Cocoa processors in Cameroon must adapt to the growing demand for these products while meeting the quality standards required by international markets. Local processing capacity is essential to maximize profits and improve the living conditions of producers (source: Cameroon Trade Hub).

Regulation and EUDR

Cameroon is also preparing to comply with the EU Deforestation Regulation (EUDR). While the country does not yet claim compliance, efforts to improve the traceability and sustainability of its cocoa production are underway. This could play a key role for Cameroonian exporters wishing to access European markets, where sustainability standards are becoming increasingly strict (source: Commission EUDR).

In conclusion, the launch of the CICC program is a significant step for the cocoa sector in Cameroon, aiming to turn challenges into opportunities and strengthen the country's position in the global market.