Recently published research from Business Monitor International, "Cameroon Agribusiness Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/01/2013 -- BMI View: The figures starting to come in for 2011/12 harvests across the agricultural sectors covered in this report suggest a somewhat disappointing performance. Cocoa farmers in particular have had a difficult year due to the impact of unfavourable weather conditions and an associated increase in outbreaks of pests and disease. Sugar output has stagnated, and corn has registered a slight downturn as production struggles to recover from a severe year-on-year decline in 2010/11. Coffee stands out as the one commodity to have registered growth - impressive growth at that - as better access to herbicides and an 'on-year' for the country's robusta plants resulted in big gains. That said, this has yet to translate into increased exports, as farmers have hoarded stocks in response to lower prices. The medium- and longerterm picture is much more encouraging, as increased investment and strong GDP growth will see increased production across the board.
- Corn consumption growth to 2016: 16.5% to 1.5mn tonnes. Demand for corn will recover as prices moderate in the medium term and solid economic growth drives demand for corn-fed livestock.
- Coffee production growth to 2015/16: 74.0% to 1.1mn 60kg bags. Production is expected to recover from 2011's slump, and the sector will benefit from investment in pesticides, fertilizers and infrastructure.
- Cocoa production growth to 2015/16: 7.2% to 257,300 tonnes. Government and private sector investment will improve yields and quality leading to increased exports.
- Sugar consumption growth to 2015/16: 42.4% to 299,000 tonnes. Significant increases in GDP per capita, rapid population growth and a fast expanding food and drink sector will support strong growth.
- 2012 real GDP growth: 4.7% (up from 4.2% in 2011 and averaging 4.8% between 2011 and 2015).
- 2012 consumer price inflation: 2.7% (down from 2.9% in 2011).
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Although 2012 may not have been a standout year for agribusiness in Cameroon as far as production is concerned, several important investment projects suggest that the outlook is positive. The African Cocoa Initiative, a major collaboration between the World Cocoa Foundation, the US Agency for International Development, the government of the Netherlands and leading international cocoa buyers, was launched in Cameroon in July. The initiative aims to increase productivity and sustainability in the sector by fostering public-private cooperative investments in cocoa and agriculture, improving the genetic quality and productivity of the cocoa varieties under cultivation, expanding farmer education and training programmes, and improving the agriculture input supply chains that serve farmers. The budget for the project stands at US$13.8mn (CFA7.3mn) with plans to leverage at least US$25mn from the private sector over the duration of the initiative.
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