At a recent information meeting between members of the Cameroonian government concerned by the December 30, 2024 entry into force of the European regulation aimed at combating deforestation and the European Union Delegation to Cameroon, the Minister of Trade, Luc Magloire Mbarga Atangana, outlined the figures for the cocoa sector: 2.5 billion US dollars (1,500 billion CFA francs) in direct income for producers over a single campaign. According to experts Jean-Claude Ngobo, economist :
“Increased cocoa production would have a multiplier effect on the economy as a whole. It would stimulate employment, consumption and investment in rural areas. Going from 300,000 to 500,000 tonnes per year would inject 2,500 billion CFA francs into the economy. It’s colossal!He points out.
The Minister of trade, Luc Magloire Mbarga Atangana, makes no secret of his enthusiasm: “All this money will go straight back into the national circuit. A real breath of fresh air for the economy.
Like the member of the government, financial analyst Marie Fouda is betting on the spin-offs of this upturn and on the challenges of transforming the whole country: “Increased cocoa production would have a domino effect on the whole economy. It would create jobs, stimulate consumption and even attract foreign investors.
What’s more, the prevailing euphoria is not sparing producers, who are well aware of the importance of increasing production. Paul Essomba, a cocoa farmer in the Lékié department in Cameroon’s Central region, has some short-term plans: “With more income, we could finally send our children to university, renovate our houses and buy modern farming equipment.
78% of Cameroon’s cocoa exports go to the European Union. The stakes of the European regulation are therefore high for the cocoa industry, in a context of increased European regulation, where economic ambitions must be reconciled with environmental requirements.
In response, the Cameroonian government has brandished the solution of agroforestry, a Cameroonian specificity that contrasts with the practices of the West African giants. A powerful argument to convince the European Union of the ecological virtues of cocoa made in Cameroon. Cameroon has a lot at stake. Between the vital economic stakes and the environmental challenge, the country is ready and has taken all the necessary steps.
“Our country has taken the lead in lobbying the European Commission, says Minister Mbarga Atangana. This approach seems to be bearing fruit, as the Commission has agreed to finance activities linked to agroforestry cocoa. Between 2021 and 2023, Cameroon has entered into a dialogue with the European Union within the framework of the “Cocoa Talks”. The aim is to define the actions needed to comply with the new regulations. The country benefits from the support of organizations such as CIRAD and FAO in this undertaking. But as the experts point out, putting a damper on the stakes set out above, the European regulation aimed at combating deforestation only applies to the European market. Cameroon says it is also ready for other markets. In plantations and ministries alike, the watchword is clear: produce more to live better. Cameroon is ready to bet big on its brown gold. We can’t wait for production to follow, especially as other markets are just as captive as the European Union,” says an Invest-Time source.
