Cameroon: Honey Market 2024

Honey Market Size in Cameroon

The Cameroonian honey market reduced to $X in 2022, waning by -10.9% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Honey Production in Cameroon

In value terms, honey production shrank significantly to $X in 2022 estimated in export price. In general, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 166% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Honey Exports

Exports from Cameroon

In 2022, honey exports from Cameroon soared to X tons, increasing by 468% compared with the previous year. In general, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2020 when exports increased by 5,019% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 1,737% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for honey exports from Cameroon, accounting for a 87% share of total exports. Moreover, honey exports to the United States exceeded the volume sent to the second major destination, Congo (X tons), more than tenfold. Canada (X kg) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Congo (+5.6% per year) and Canada (+47.0% per year).

In value terms, the United States ($X) remains the key foreign market for honey exports from Cameroon, comprising 92% of total exports. The second position in the ranking was held by Congo ($X), with a 2.9% share of total exports. It was followed by Canada, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +46.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Congo (-1.7% per year) and Canada (+19.7% per year).

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, dropping by -19.4% against the previous year. In general, the export price, however, posted slight growth. The most prominent rate of growth was recorded in 2019 an increase of 122%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Cameroon

In 2022, after three years of decline, there was significant growth in purchases abroad of honey, when their volume increased by 142% to X tons. Over the period under review, imports, however, saw a abrupt setback. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, honey imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt contraction. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest honey supplier to Cameroon, with a 80% share of total imports. It was followed by the Netherlands (X kg), with a 2% share of total imports. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +56.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-16.1% per year) and the United Arab Emirates (-6.6% per year).

In value terms, Germany ($X) constituted the largest supplier of honey to Cameroon, comprising 85% of total imports. The second position in the ranking was held by France ($X), with a 1.4% share of total imports. It was followed by the Netherlands, with a 1.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +45.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-38.8% per year) and the Netherlands (-27.0% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, shrinking by -27.4% against the previous year. Overall, the import price saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when the average import price increased by 46%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform