CDC bolsters banana industry in October 2023, with exports surging by 58%

November 10, 2023

The Cameroon Development Corporation, the second-largest employer in the country after the central administration, exported a shipment of 2,586 tons of bananas in October 2023. Year-on-year, these exports increased by 58%, compared to the 1,636 tons exported in October 2022, according to data compiled by the sector association -Assobacam.

This marks the CDC's second-best performance since the beginning of 2023, following the 2,592 tons of bananas shipped in January 2023. It also means a gradual recovery for this state-owned enterprise from the turmoil it has faced due to the Anglophone crisis in the NoSo regions. The conflict caused the suspension of CDC’s activities for nearly 2 years, affecting about 20,000 jobs.

The significant increase in CDC exports notably boosted Cameroon's overall banana shipments to the international market during the period under review. Officially reported, the country's banana exports increased by 10% in October 2023, year-on-year. According to Assobacam data, they rose from 17,930 tons in October 2022 to 19,721 tons in October 2023, up 1,791 tons. This also marks the sector's second-best performance since the beginning of 2023, following the 19,734 tons exported in September 2023.

Export Earnings

However, despite CDC's good performance, Plantations du Haut Penja (PHP) remains the market leader. This subsidiary of Compagnie Fruitière de Marseille exported 16,252 tons of bananas in October 2023, compared to 15,141 tons a year earlier (up 111 tons or 7.3%).

Boh Plantations Plc, the third market player, experienced a decline of 23.4% in October, equating to a decrease of 270 tons in absolute value. Specifically, banana shipments by this operator reached 883 tons in October 2023, compared to 1,153 tons during the same period in 2022.

The increase in banana exports recorded in the Cameroonian sector in October 2023 translates to additional export revenue for the country and increased income for the producers. Bananas have long been one of Cameroon's main export products, particularly to European Union (EU) countries.

Source: Business in Cameroon