Home AGRICULTURE CAMEROON: Price of Cocoa Plummeted due to Covid-19 Pandemic

CAMEROON: Price of Cocoa Plummeted due to Covid-19 Pandemic

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Due to the current pandemic, cocoa exports have been reduced in recent months.According to the information provided by Reuters, several European and American manufacturers have rescheduled their October-December 2020 bean deliveries over the period January-March 2021. This is why, in one week, the price per kilogram of cocoa fell by 75 FCFA.

This rapid drop in the price of cocoa, the first export product after oil in Cameroon, was noted between 7 and 13 January 2021. Indeed, the price per kilogram went from 1000 FCFA to 925 FCFA according to the figures collected in the information system of the sectors. A system whereby cocoa producers receive real-time information on market price developments. This allows them to steer their trading abilities towards buyers. 

Cameroon is heavily affected by Covid-19 with more than 28,000 reported cases and more than 400 deaths. The evolution of the disease in the world has slowed the enthusiasm of those seeking this precious product for the economic life of the country. 

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Cocoa is grown in 7 of the 10 Cameroonian regions and covers an area of about 400,000 hectares. It now accounts for about 25% of the country’s total export value.

       

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