8, June 2022
Southern Cameroons Crisis: CDC still struggling to recover 0
The Cameroon Development Corporation seems to still be struggling to recover from the separatist war in Southern Cameroons. Between January and May 2022, the agribusiness company exported 8,443 tons of bananas, up only 651 tons, compared to 7,792 tons during the same period in 2021.
Although the volume is higher, it hides an almost stagnant production year-on-year, according to statistics published by the Banana Association of Cameroon (Assobacam). CDC was even absent from the export market for 2 years as of September 2018, meaning it did not export any bananas over the period. Before this happened, the company shipped 23,495 tons of bananas between January and May 2018, almost three times the volume exported during the same period in 2022 (8,443 tons).
The picture looks bleak, but the Bank of Cemac States (Beac) has a better outlook. In its latest business survey, the bank revealed that banana production should increase in Q2 2022, as most of the 2021 plantings will now mature, and CDC will resume activities.
Indeed, After almost two years of inactivity due to the Anglophone crisis, CDC initiated the rehabilitation of 520 hectares of banana plantations last year. These are the ones that should mature during the second quarter, according to the central bank. On this basis, the increase in production should lead to higher exports.
Source: Business in Cameroon
8, June 2022
Ukraine War: Russian Foreign Minister visits Turkey in bid to unblock Black Sea for grain exports 0
Russian Foreign Minister Sergei Lavrov began a two-day visit to Turkey on Tuesday for talks on unblocking grain exports from Ukraine, which have been stalled by Moscow’s offensive amid a UN warning of worldwide food crisis due to the war. This comes as fighting intensifies in Ukraine’s eastern Donbas region.
Russian Foreign Minister Sergei Lavrov has said he hoped issues relating to grain shipments from ports in Ukraine could be resolved, provided Kyiv de-mines the waters around them. Speaking alongside his Turkish counterpart Mevlut Cavusoglu in Ankara, Lavrov said Russia’s “special military operation” in Ukraine was going according to plan and that peace talks would need to resume before there was any chance of presidential talks between President Vladimir Putin and Ukraine’s President Volodymyr Zelensky.
Turkey’s foreign minister said a UN plan to open a corridor to restart Ukrainian grain exports was reasonable and requires more talks with all sides to ensure ships would be safe.
Speaking alongside Russian Foreign Minister Sergei Lavrov, Turkey’s Mevlut Cavusoglu said their meeting in Ankara was fruitful, including a will to return to negotiations between Moscow and Kyiv for a possible ceasefire.
Source: France 24