Cocoa: Cameroon’s Exports Plummet by 66,543 Tons

Current Situation of Cocoa Exports in Cameroon

Cameroon is facing a significant crisis in its cocoa sector, with exports dropping by 66,543 tons. This decline represents a 34.65% decrease compared to the previous season, raising concerns about the sustainability of the country's cocoa industry (source: Journal du Cameroun). This situation is exacerbated by challenges related to bean quality and increased competition in the international market.

Cocoa and Coffee Prices in Cameroon

Regarding prices, cocoa is currently quoted at £4753/T on the ICE market in London, with an increase of 8.64% compared to the previous period. Locally, the price of cocoa is set at 3470 FCFA/kg CIF and 3388 FCFA/kg FOB according to ONCC (source: ONCC). For coffee, the price of arabica is 4093 FCFA/kg FOB, while robusta sells for 1875 FCFA/kg FOB, with a slight decrease of 0.92% and 1.06% respectively (source: ONCC).

Impact on the Coffee Sector and Derivatives

The situation in cocoa is also affecting the coffee sector, which is beginning to show signs of volatility. Robusta coffee producers in Cameroon recently generated 3.5 billion FCFA in exports, marking a 300% increase compared to the previous year (source: EcoMatin). However, rising production costs and logistical challenges could affect this positive dynamic.

Preparation for the EU Deforestation Regulation (EUDR)

In the context of the European regulation on deforestation, Cameroon is intensifying its efforts to prepare for this new legislation. Cameroonian authorities are working on the necessary documentation to ensure that cocoa products meet the EUDR requirements, although it is still too early to assert that these products will be compliant (source: Alwihda Info). Discussions around sustainability and traceability in supply chains are at the forefront of industry stakeholders' concerns.

Conclusion

The drop in cocoa exports from Cameroon underscores the need for concerted action to revitalize the sector. Producers must navigate a challenging market environment while meeting increasing sustainability requirements. The coming weeks will be crucial in determining how the country adapts to current challenges and the impending EU regulation.