Cameroon cocoa prices hit record 3,000 FCFA per kilo

The price of cocoa beans per kilogramme in Cameroon has risen by over 9 percent in just two days, according to data published by the National Cocoa and Coffee Board (NCCB).

In a recent update on the price of cocoa, the NCCB put the minimum price per kilogramme in Douala at FCFA 3,000 and the maximum price at FCFA 3,200.

This is a sharp increase from the February 14 update the NCCB made, which settled the minimum price at FCFA 2,750 and the maximum price at FCFA 2,900.

The increase, according to agriculture experts, is influenced by a prevailing scarcity of cocoa beans across the world.

This year, top cocoa-producing countries including Ghana, Ivory Coast, Nigeria, and Cameroon, witnessed poor cocoa yields, which drove prices to an all-time high.

The poor yields have been blamed on climate change, marked by unpredictable weather conditions and a multiplicity of pests.

The price of cocoa per kilo in Cameroon has now doubled compared to what farmers received last year.

When the Minister of Trade, Luc Magloire Mbarga Atangana, launched the 2023–2024 cocoa season in Meyomessala, South Region, on January 20, 2024, cocoa was priced at FCFA 2,520 per kilo.

Hailing this as a “world record”, Minister Luc Magloire attributed the surge to the increase in the quality of Cameroonian cocoa.

Earlier this month, Cameroon won a bronze medal at the 2024 Cocoa of Excellence Awards in Amsterdam.

Mimi Mefo Info