Announcements

Job Offers

Specials more

Top 5 -yesterday

Top 5 -last week

Top 5 -last month

Cameroon Development Corporation

520 hectares of banana plantations to be reactivated this year

According to the Q2-2021 business cycle analysis, recently published by the Bank of Central African States, Cameroon’s banana production will increase between April and June 2021. The same source tells us that this rise will be noticed in all of the country’s production areas, ‘including the Southwest, where the main producer plans to renovate 520 hectares [of banana plantations] in 2021.’ 

In the southwest, state-owned agribusiness company Cameroon Development Corporation (CDC) is the main banana producer. The CDC, which also exploits rubber and oil palm plantations, has been the main victim of the socio-political crisis ongoing in the northwest and southwest regions since late 2016. Separatists militias converted CDC plantations into training camps, assaulted workers and burnt the company’s processing and storage units. Because of the insecurity, the top management decided to suspend operations. Therefore, between September 2018 and May 2020, CDC was out of the banana production market in Cameroon.

As a result, the company, which usually injects an average of XAF500 million into the southwestern region’s economy, recorded a XAF60.9 billion revenue shortfall between 2016 and 2018.

In May 2020, CDC resumed banana production but its performance till now is somehow unsatisfactory. According to figures published by the Banana Association Cameroon (ASSOBACAM), over the nine months from June 2020 to February 2021, CDC exported only 9,521 tons of banana. By renovating 520 hectares of banana plantations, it will effectively relaunch its operations.

[ XAF100 = €0.15 ]

 

Source: businessincameroon.com


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


Facebook Twitter LinkedIn Instagram Rss

© FreshPlaza.com 2021

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber