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Cocoa and Coffee farmers in Gabon reassured of good prices despite Coronavirus shocks

The Stabilization and Equalization Fund CAISTAB has assured that the purchase price of coffee and cocoa will remain at a decent price after the Covid-19 crisis. Good insurance for planters, who impatiently await the full resumption of activities in the sector.

Will coffee and cocoa planters sell their produce at a discount after the Covid-19 health crisis? Certainly not, assured the Stabilization and equalization fund CAISTAB.

“The CAISTAB aims to protect the Gabonese planter. That is to say, we are looking at the market price, “the general manager of CAISTAB said. “But we have a guaranteed minimum price that we set for each campaign. We guarantee this price, whatever the market fluctuation, “Thierry Prosper Mboutsou said.

The role of CAISTAB  is to buy the productions of the planters as soon as possible, in order to develop the coffee-cocoa sector. The boss of CAISTAB recognizes, however, that the activity is undermined by the Covid-19 pandemic.

“Like hydrocarbons, the impact of Covid-19 on production is certain. For those of coffee and cocoa, the limitation of movements and social distancing measures do not allow Caistab to move across all of its sites and those of the planters. As a result, we are seeing a slowdown in economic activity, ” Thierry Prosper Mboutsou said.

Caistab, however, says it is ready to fully restart its activities after the health crisis. In 2018, local sales and exports of cocoa fell 38.7% and 40.3% respectively, despite an increase in production of 21.2% to 115 million tonnes. In the same year, coffee sales, mainly local, more than doubled (119.0%). Production however fell 7.2% to 20.51 tonnes.

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