In October 2024, the Plantations du Haut Penja (PHP), a subsidiary of the Compagnie Fruitère de Marseille in Cameroon, experienced a 39% decline in banana exports. The Banana Producers Association of Cameroon (Assobacam) reported that PHP's shipments amounted to 9,894 tons, a decrease from 16,252 tons the previous year. This marked PHP's most significant downturn since the beginning of 2024 and a notable decline since May 2023 when exports were at 9,761 tons.
Cameroon's overall banana exports also faced a reduction in October 2024, totaling 13,898 tons, which is 5,635 tons less than in October 2023. The state-owned CDC saw a 19% decrease in its exports, shipping 2,092 tons, while Boh Plantations Plc's exports fell by 25%, totaling 661 tons. On the other hand, the Compagnie des Bananes de Mondoni (CDBM), also under the Compagnie Fruitère de Marseille, saw an 80% increase in its exports, with 1,251 tons shipped.
Bananas are crucial for Cameroon's economy, with exports to G7 countries reaching CFA42.9 billion in 2023. The country aims to boost its annual banana production to 500,000 tons by 2030, from the current 210,000 to 240,000 tons, as part of its National Development Strategy for 2030 (SND 20-30).
Source: Business in Cameroon