Cameroon’s cocoa export revenue plunges 63% as shipments and prices fall ⁰

Cameroon’s cocoa export earnings fell 63% during the 2025-26 season, hit by a sharp decline in both shipments and international prices, a reversal that could cost cocoa its newly acquired position as the country’s largest export product.

Cameroon exported 125,469 tons of raw cocoa beans during the season that officially ended July 15, 2026, according to data released by the National Cocoa and Coffee Board, or ONCC, at the launch of the 2026-27 season. That was 66,543 tons, or 34.7%, below the 192,012 tons shipped a year earlier.

The value of those exports at the port of Douala dropped even more sharply, to CFA400.9 billion from CFA1.07 trillion in the previous season, a decline of CFA673 billion.

The ONCC did not provide a specific explanation for the steep fall in export volumes, which came alongside a decline of more than 15% in locally processed beans. Its figures, however, point to lower marketed production and a sharp increase in end-of-season inventories.

Marketed cocoa production fell 19.9% to 247,914 tons in 2025-26 from 309,518 tons the previous season, reducing the volume of beans available for purchase.

Meanwhile, closing stocks nearly tripled to 40,446 tons from 13,946 tons. That means the volume of beans remaining in inventory increased by 26,500 tons between the two seasons.

Europe Takes More Than 84% of Exports

Telcar Cocoa regained its position as Cameroon’s largest cocoa exporter, shipping 40,631 tons, or 32.4% of the season’s total.

The company, led by Kate Fotso, had lost the top spot in 2024-25 following the end of its partnership with U.S. commodities trader Cargill. Telcar exported 30,497 tons that season, giving it a 15.7% market share.

Ofi Cam ranked second in 2025-26 after exporting 24,394 tons, or 19.4% of the total. SBET, the previous season’s market leader, slipped to third place with 23,223 tons, representing 18.5%.

Together, the three companies accounted for 70.3% of Cameroon’s cocoa bean exports.

Europe remained by far the largest destination, led by the Netherlands. ONCC data show the continent received 84.6% of Cameroon’s exports. Asia accounted for 14%, while the Americas and Africa each received about 1%.

Lower Prices Deepen the Revenue Hit

The 63% collapse in export revenue reflects not only fewer shipments but also a steep decline in cocoa prices between the two seasons.

According to the ONCC, FOB prices at the port of Douala ranged from CFA3,808 to CFA7,536 per kilogram during the 2024-25 season. In 2025-26, the range dropped to CFA1,520-CFA3,110 per kilogram.

That represents a decline of roughly 58% to 60% between the two seasons.

The combination of lower production, fewer exports and weaker prices could have broader implications for Cameroon’s external trade.

Cocoa overtook crude oil as the country’s largest export product in 2025 after benefiting from the earlier surge in global prices. According to the National Institute of Statistics, cocoa beans generated 26.3% of Cameroon’s export revenue that year, compared with 22.9% for crude oil.

With cocoa export earnings down 63% in the latest season, maintaining that lead in 2026 could prove difficult. The downturn therefore represents more than a weak cocoa season: it could reshape the composition of Cameroon’s export earnings just one year after cocoa displaced oil at the top.

Source: Business in Cameroon