CAMEROON – Cameroon has emerged as the 4th largest cocoa exporter globally in 2023, capturing 7.6 percent of the international market, according to the latest report from the Competitiveness Committee.
The country’s rise in rankings was driven by a 12.7 percent increase in cocoa exports compared to 2022, despite a decrease in the overall volume of cocoa beans exported.
In 2023, Cameroon exported 180,095 tons of raw cocoa beans, down by 55,445 tons from the previous year. However, revenue from these exports grew by 12.9 percent, reaching over CFA359 billion.
This increase was largely attributed to a 21.2 percent rise in international cocoa prices, which offset the decline in export volume. Cocoa accounted for 12 percent of Cameroon’s total export revenue for the year.
Most of Cameroon’s cocoa exports were directed to the Netherlands, which received 73.8 percent of the total shipments. Other key markets included Malaysia (9.4%), Indonesia (8.0%), and Turkey (3.2%).
The global rise in cocoa prices was largely driven by reduced production in top-producing countries like Côte d’Ivoire and Ghana, which have market shares of 33.7 percent and 11.2 percent, respectively.
Cameroon’s National Institute of Statistics (INS) highlighted the impact of international market dynamics on the country’s cocoa sector.
The price surge came amid production challenges in major exporters, including Ghana and Côte d’Ivoire, where poor harvests caused a supply shortfall. As a result, New York cocoa futures soared above US$7,000 per tonne.
Despite these challenges, Cameroon reported a modest 1.17 percent increase in cocoa production for the 2023/2024 season, producing 266,725 tons.
The National Cocoa and Coffee Office (ONCC) officially launched the 2024/2025 cocoa season in August, expressing optimism about continued growth in both production and revenue.
Meanwhile, neighboring Ghana has raised cocoa farmgate prices by 45 percent for the 2024/2025 crop season, bringing the price of a 64kg bag of cocoa beans from US$132 to US$192. The move aims to curb cocoa smuggling and improve farmer welfare.
In response to growing supply concerns, companies like California Cultured have started exploring alternative methods to produce cocoa using cell cultures.
The process involves putting cocoa bean cells in a container with sugar water. This helps them quickly reproduce and mature.
Alan Perlstein, chief executive of California Cultured, said he sees the demand for chocolate continuing to increase, while the supply decreases.
“Using alternative processing methods might be the only way to increase the supply of cocoa without causing environmental harm or greatly increasing costs,” he said.
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