(Business in Cameroon) – Shipping cocoa and its derivatives to the international market brought in CFA512 billion in revenue for the Cameroonian government last year. This marks a 10.4% increase compared to the CFA463.6 billion collected the previous year, according to data reported by the national statistics agency, INS.
The latter revealed, however, that while income surged, the overall volume shipped decreased. For example, the volume of raw cocoa beans exported in 2023 was 55,445 tons less than in 2022. This sale generated just over CFA359 billion, which was 12.9% higher YoY and accounted for 12% of Cameroon’s total export revenue over the period.
At the same time, 73,236 tons of cocoa derivatives, including 49,411 tons of cocoa paste and 23,825 tons of cocoa butter, were sold on the international market. Altogether, these products enabled Cameroon to generate CFA153 billion. Cocoa paste exports garnered CFA97.4 billion (up by 19% annually), while cocoa butter exports brought in CFA55.5 billion (down by 3% annually).
INS attributed the increase in revenue to the rise in beans’ prices on the international market, due to an unfavorable situation marked notably by decreased production in Ghana and Côte d’Ivoire, the two leading global producers.