Cameroon subsidizes its coffee and cocoa industries

On July 6, the cocoa and coffee industry development fund (fodec) will open the subsidy window, with a subsidy amount of 6.3 billion African francs in 2021. It is estimated that the amount of subsidies will increase exponentially in the next few years, reaching 50 billion francs in five years. There are three kinds of subsidies, which are divided into two categories. The first is large-scale subsidies for agricultural products such as chemical fertilizers, seeds, seedlings and disease and insect resistant products. This category is open to all cocoa and coffee producers without any conditions.

There are about 600000 coffee and cocoa growers in Cameroon, with farming areas ranging from 200 square meters to 10 hectares. The second and third kinds of subsidies are for agricultural machinery and equipment and supporting infrastructure, which are conditional on applicants and need to provide business plans. The government’s goal is to increase the country’s cocoa production to 640000 tons by 2030, only 257151 tons in 2019-2020, and coffee production to 160000 tons from the current 22000 tons.
Source: China Agricultural Information Network

Post time: Jul-19-2021