28, March 2020
Southern Cameroons Crisis: Banana exports down by over 6,500 tons 0
Banana exports from Cameroon are on the slide. This is a direct fallout of the armed struggle by the Ambazonia people of South West Cameroon who want to secede from Cameroon Republic.
In February 2020, the two banana exporters still active in Cameroon exported 14,965 tons of the products. According to the banana exporters’ association Assobacam, these exports were down by 6,532 tons compared with the 21,497 tons exported during the same period in 2019.
This drop is mainly due to a decrease in the year-over-year exports of Plantations du Haut Penja (PHP), the local subsidiary of French group Compagnie fruitière de Marseille. During the period under review, PHP (leader of the Cameroonian banana market) only exported 13,847 tons against 19,737 tons in February 2019.
State-owned agribusiness unit CDC is still absent from the Cameroonian banana exporters’ registry. The main economic victim of the pro-independent crisis in the Anglophone regions [since 2016] stopped operations since September 2018, because of the insecurity created by separatists on its plantations and factories.
Source: Business in Cameroon
28, March 2020
Cameroon’s beef price jumps 3.5% driven by exports to Nigeria 0
In 2019, food prices have been among the main driving forces behind the rise of the inflation in Cameroon. That year indeed, inflation surged to 2.5%, the highest since 2015.
Among the food products that contributed to the rise was beef, the National Institute of Statistics (NIS) reported. According to NIS,after a drop of 2.1% in 2018 the price of beef in Cameroon increased by 3.5% in 2019. This sharp rise is mainly due to the resumption of beef trades with neighbouring countries (Nigeria in particular), the INS explained.
Indeed, because of the exactions started by Nigerian Islamist sect Boko Haram in 2013, Cameroon closed its northern borders with Nigeria in 2015. The northern region is the main beef production area in Cameroon.
In 2019, following the relative peace that ensured after fights led by the Cameroonian army against Boko Haram, Cameroon decided to open some of its borders with Nigeria. This is the case of the Amchidé border, officially reopened since May 15, 2019. This town is the hub of trade between Nigeria and Cameroon in the Far North region.
At the same time, several livestock markets, closed for years due to the insecurity created by Boko Haram, were also relaunched. Consequently, exports of Cameroonian beef to Nigeria have been boosted, leading to higher prices on the local market.
Business in Cameroon