Cocoa prices in Cameroon are experiencing a significant decline, directly impacting producer incomes. After a period of near-continuous increases for two months, farmgate prices have fallen by 250 FCFA per kilogram in less than two weeks in the country's main production areas. This correction comes as the 2025-2026 cocoa season approaches its end, scheduled for July 15, 2026.
According to data from the Commodity Information System (SIF) of the National Cocoa and Coffee Board (ONCC), the price of cocoa per kilogram was between 1,500 and 1,550 FCFA on May 22, 2026. This figure is a marked decrease compared to May 11, 2026, when the kilogram was still trading between 1,750 and 1,800 FCFA. This sudden drop puts an end to an upward trend observed since mid-February, during which prices had gradually increased from 1,050-1,100 FCFA to 1,750-1,800 FCFA.
Although the ONCC's SIF has not provided an immediate explanation for this turnaround, several factors could be at play. On the one hand, a slowdown in local demand after significant purchases made at the beginning of the season could explain this decline. On the other hand, the international situation plays a significant role.
Analysts anticipate a return to surplus on the global cocoa market during the 2025-2026 season, a consequence of a recovery that began in the previous season after three years of deficit. Ecuador, with its constantly increasing production, could even threaten Ghana's position as the world's second-largest producer.
At the start of the season, Cameroonian authorities had forecast producer prices between 3,200 and 5,400 FCFA/kg. However, as the end of the season approaches, prices remain below these initial forecasts. Despite a price recovery between February and May, the market has not confirmed the ambitious levels announced at the start of the season. This situation highlights the complexity of the cocoa market, subject to fluctuations in supply and demand both nationally and internationally.
