Cameroon to Offer $20 Million Bonus to Top Cocoa Producers

In a move aimed at boosting domestic production of premium cocoa beans, the Cameroon government has announced a groundbreaking initiative. According to Atangana, the Minister of Commerce, the government will be awarding a 20 billion Central African CFA franc (approximately $330 million) bonus to cocoa farmers.

The bonus program, set to be rolled out between October 15 and December 15 this year, will target producers of grade-1 (superior quality) cocoa beans. The recipients will be selected by August 30th. This latest tranche brings the total bonuses paid by the government to 50 billion CFA francs (around $830 million) over the years.

The move is part of Cameroon's sustained efforts over the past decade to improve the quality of its cocoa production. In 2021, the National Cocoa and Coffee Board (ONCC) reported that the country had achieved its best-ever results in cocoa quality control, with the proportion of grade-1 beans reaching its highest level in nearly two decades.

The bonus scheme, first introduced in the 2016-2017 cocoa season, aims to help Cameroonian producers meet the increasingly stringent export standards and quality requirements of the international market. It also aims to bolster their resilience against fluctuations in global cocoa prices.

"This initiative demonstrates Cameroon's commitment to empowering its cocoa farmers and cementing its position as a reliable supplier of premium quality beans," commented an industry analyst. "It's a strategic move that could pay dividends in terms of market share and revenue for the country's vital cocoa sector."