On May 29th, the Yaoundé City Hall Esplanade hosted the inaugural edition of the Cacao & Coffee Festival, a merging of the iconic Festicacao and Festicoffee events.
Presided over by the Minister of Trade, Luc Magloire Mbarga Atangana, alongside his counterparts in Agriculture, Gabriel Mbairobe, and Labor and Social Security, Gregoire Owona, the opening ceremony saw a diverse array of dignitaries in attendance, including the Executive Director of the International Cocoa Organization and representatives from prominent organizations such as Lady Agry and PURATOS.
Minister Atangana emphasized the festival’s importance as a platform for promoting fair compensation for farmers and ensuring the sustainability of these vital sectors. He underscored ongoing efforts to address pricing disparities and enhance transparency throughout the value chain.
“This festival serves as a catalyst for social cohesion, particularly for rural communities, empowering them economically and fostering a sense of pride in their cultural heritage,” stated Minister Atangana.
He emphasized the need for equitable compensation and transparent practices to support the livelihoods of producers.
Regarding current cocoa campaigns, Minister Atangana dismissed claims of excessively high producer prices, stressing the importance of evaluating them in context.
He called for market stabilization, reinforced transparency, and predictable producer prices aligned with those of other stakeholders.
The festival’s first day concluded with a vibrant expo showcasing the diverse flavors and aromas of Cameroon’s finest cocoa and coffee offerings.
Attendees were treated to workshops, tastings, beauty stands, and various entertainment activities, providing a comprehensive experience celebrating the richness of the country’s agricultural heritage.
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In related news, the first edition of the Aeropress competition in Cameroon will take place at the festival’s venue on Friday, May 31st, offering attendees the opportunity to explore the art of barista craftsmanship.
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Cocoa and Coffee Prices as of May 28, 2024:
- Cocoa Prices:
- CAF Londres: 5,189 FCFA/KG
- FOB Douala: 5,081 FCFA/KG
- Purchase Price at Douala:
- Min: 3,900 FCFA/KG
- Max: 4,400 FCFA/KG
- Coffee (Robusta) Prices:
- CAF: 2,401 FCFA/KG
- FOB: 2,286 FCFA/KG
- Purchase Price at Moungo:
- Min: 1,600 FCFA/KG
- Max: 1,800 FCFA/KG
- Coffee (Arabica) Prices:
- CAF: 3,057 FCFA/KG
- FOB: 2,926 FCFA/KG