Palm Oil : Socapalm To Boost Production Amidst Deficit

Cameroon is currently grappling with a staggering palm oil deficit that exceeds 700,000 tons annually. The above statistics were disclosed during the ordinary session of Société Camerounaise de Palmeraies (Socapalm) board meeting that took place in Douala on January 9.
 Du the meeting, it was has announced that Socapalm has taken a bold initiative to boost its production capacity to 200,000 tons by the end of 2026. It emerged from the meeting that the imbalance in the sector is glaring. Domestic production rose by 11.7% in 2024, reaching 446,984 tons, yet national demand has skyrocketed to an alarming 1.17 million tons. This gap of 723,016 tons has forced Cameroon to rely heavily on costly imports, compromising its economic stability.
During a board meeting, the General Manager of Socapalm, Frédéric Augé, emphasized the company’s commitment to enhancing national food security. “100% of the palm oil produced by Socapalm in Cameroon is sold on the local market,” Augé stated. 
In 2023 alone, Cameroon imported over 144,000 tons of palm oil to avoid stockouts, highlighting the critical nature of the situation. To tackle these challenges, Socapalm’s strategy hinges on two key pillars: replacing aging, unproductive trees with high-yielding varieties and upgrading extraction units, supported by a substantial FCFA 21.7 billion government stimulus plan set for 2024-2026. Economist Dr Jean Marie Biada argues that enhancing production solely through fertilizers and improved seeds isn't sufficient. He asserts that the government must take significant action regarding land reform to facilitate this growth. Proposed solutions include releasing large-scale land reserves to allow for increased cultivation, doubling or tripling cultivated areas with a target of one million tons by 2035, and adopting successful models like Gabon’s Olam, which has effectively uti...