The upward trend consolidates the recovery that began two months ago. For the national agricultural sector, the crossing of the 2,000 CFA Franc threshold on June 22 marked a significant shift compared to the lethargy of the first half of the 2025-2026 export campaign, which was launched on August 7, 2025, in Mbankomo.

The current rise in local prices, however, remains below historical performances recorded in previous campaigns. Farmers had benefited from exceptional remuneration, reaching 5,400 CFA Francs per kilogram during the 2024-2025 season and almost 6,000 CFA Francs during the 2023-2024 fiscal year. The initial government forecasts, which predicted a range of 3,200 to 5,400 CFA Francs for the current year, were contradicted by the international situation. At the macroeconomic level, the reference values for exports are 3,278 CFA Francs for the FOB (free on board) price and 3,358 CFA Francs for the CAF (cost, insurance, and freight) value, reflecting an adjustment of exporters' margins in response to the behavior of global markets.

The gap between the authorities' projections and the reality of transactions stems from the reversal of the global market for raw materials. The collapse of prices compared to previous cycles is explained by the absorption of global production deficits and the return to a surplus of global cocoa supply. The simultaneous slowdown in industrial grinding in major Western and Asian consumer countries reduces pressure on available stocks. Cameroon, despite a qualitative improvement in its cocoa, is thus affected by a global easing of supply that redefines the financial balances between chocolate multinationals and local producer associations.


Ndjomo Carlos