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February 16, 2012

Equatorial Guinea promotes its nascent cocoa sector with a ‘discount sale’

Equatorial Guinea is not known for its cocoa, or particularly for any other agricultural products. Yet the small country in West Africa could become an importer grower, being in the same region as big producers Ivory Coast and Ghana.

The presence of oil may have something to do with the neglect of agriculture, but the government insists it wants to change this, and is investing in the sector.

In an apparent effort to attract international attention to its cocoa-growing attention, the government announced a sale of 330 tonnes of the commodity at ‘a discounted price. It is hoped the sale would also act as a motivator to local farmers to increases cocoa production.

The sale was announced by minister of agriculture, Teodoro Nguema Obiang Mangue, who is also the son of the president.

No prices were announced for the sale, but a February 8 2012 statement said, “Minister Nguema wants to offer buyers a good quality product at a price they can afford.”

"The cocoa subsidy is an effort to encourage cocoa buyers around the world to purchase Equatorial Guinea cocoa," Nguema.

To put the 330 tonnes into perspective, Ghana is hoping to soon achieve annual production of a million tones of cocoa.

African Agriculture

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