The Cacao & Coffee Festival in Yaoundé is in full swing, featuring important discussions, exciting events, and key announcements. Here are the latest updates from the festival.
High-Level Meeting on Cocoa Production
On Thursday, May 30, 2024, Cameroon’s Minister of Commerce, Luc Magloire Mbarga Atangana, met with H.E. Aly Touré, the Permanent Representative of Côte d’Ivoire to International Commodity Organizations in London. The meeting focused on the rotating presidency of the International Cocoa Organization (ICCO).
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For the 2024-2025 term, the presidency will belong to cocoa-producing countries, as stipulated by the international cocoa agreement. They also discussed the ICCO’s work on implementing the European Union’s deforestation regulation and the current surge in global cocoa prices.
Laying the Foundation for a New Chocolaterie
On Friday, May 31, 2024, Minister Atangana will lay the foundation stone for a new chocolaterie in Obala, in the Lékié Division, Centre Region. This marks a significant step in enhancing local cocoa processing capabilities and boosting the regional economy.
Focus on European Deforestation Regulation
The third day of the festival will kick off with a media briefing at Yaoundé’s cercle municipal on the EU’s deforestation regulation. This session aims to inform the public and media about the new regulations and their impact on the cocoa and coffee industries.
NCCB General Manager’s Visit
On Thursday, May 30, 2024, Michael Ndoping, the General Manager of the National Cocoa and Coffee Board (NCCB), visited the festival’s exhibition booths. His visit was to review the activities carried out by the NCCB team at the festival. Mr. Ndoping will also speak at a workshop on the European Deforestation Regulation on Friday, May 31, 2024, at 9 a.m.
Current Cocoa and Coffee Prices
As of May 30, 2024, the following prices were recorded:
- Cocoa:
- CAF London: 6,986 FCFA/kg
- FOB Douala: 6,851 FCFA/kg
- Purchase price in Douala:
- Minimum: 4,300 FCFA/kg
- Maximum: 4,900 FCFA/kg
- Robusta Coffee:
- CAF: 2,696 FCFA/kg
- FOB: 2,574 FCFA/kg
- Purchase price in Moungo:
- Minimum: 1,600 FCFA/kg
- Maximum: 1,850 FCFA/kg
- Arabica Coffee:
- CAF: 3,181 FCFA/kg
- FOB: 3,048 FCFA/kg
These prices reflect the ongoing fluctuations in the international markets and underscore the importance of strategic discussions and initiatives at the festival.
The Cacao & Coffee Festival continues to be a vibrant celebration of Cameroon’s rich agricultural heritage, with events and activities that engage both industry stakeholders and the general public. Stay tuned for more updates as the festival progresses.
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