Cameroon’s richest woman Kate Fotso eyes gains as cocoa prices top $3.5 per kg

Cameroon’s cocoa market is ending the 2025-2026 season on a stronger note, offering a modest lift to Telcar Cocoa, the country’s largest cocoa exporter, owned by Cameroon’s richest woman, Kate Fotso.

Farmgate prices across major production zones have recently climbed above the CFA2,000 ($3.46) per kilogram threshold, just weeks before the season ends in mid-July. Data from the National Cocoa and Coffee Board (ONCC) shows beans trading between CFA2,000 ($3.46) and CFA2,050 ($3.55) as of June 22, marking a notable recovery from earlier lows in the season.

Late rebound in challenging season
The recent price increase comes after months of subdued market performance that fell short of expectations at the start of the campaign. While the rebound provides some relief to farmers and exporters, it does little to reverse a season marked by weaker-than-anticipated returns.

The current pricing remains significantly below the highs recorded during the previous two campaigns. In the 2024–2025 season, cocoa prices reached as much as CFA5,400 ($9.35) per kilogram, while the 2023–2024 campaign saw prices climb to nearly CFA6,000 ($10.39) in some producing areas, driven by tight global supplies and strong demand.

At the start of the 2025–2026 season in Cameroon, authorities projected farmgate prices between CFA3,200 ($5.54) and CFA5,400 ($9.35), expecting continued momentum from the prior boom. Those expectations ultimately failed to materialize, leaving the market to recover only modestly toward the end of the cycle.

Global market shift caps upside
After several years of supply deficits that pushed prices to record levels, the market is now adjusting to expectations of a global surplus. At the same time, softer industrial demand in key consuming markets has reduced upward pressure on prices.

Despite the recent recovery, cocoa prices remain about 62 percent below the CFA5,400 ($9.35) peak reached in the previous season and roughly two-thirds below the highs recorded during the 2023-2024 campaign. Still, the improvement in prices is supporting stronger returns for exporters, including Telcar Cocoa, the Cameroonian cocoa trading giant owned by Kate Fotso.

Mixed outlook for Fotso’s cocoa empire
Fotso, widely regarded as Cameroon’s richest woman, built her reputation through decades of leadership at Telcar Cocoa, the country’s leading exporter for more than 30 years. The company’s performance is often seen as a barometer of the broader cocoa sector.

The late-season price recovery could support improved sales volumes as farmers take advantage of stronger pricing. However, it is unlikely to significantly alter the overall outcome of a campaign that has underperformed both government projections and the exceptional gains of recent years in Cameroon.

The development underscores the continued volatility of commodity markets, where shifts in global supply and demand can rapidly reshape earnings prospects for producers and exporters alike.