Cameroon: Sosucam warns of possible distortion of the sugar market in Q4-2020 due to smuggling

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(Business in Cameroon) – In the September 2020 edition of its monthly magazine News from the Sucre Valley, Sosucam (sugar producer) estimates that the Cameroonian sugar market could be distorted in Q4-2020.

According to the sugar producer, two factors contribute to this distortion. These include the decline in the number of cubes produced from imported sugar and the smuggling of sugar from Nigeria which could be aided by currency fluctuations in the neighboring country.

In addition, Sosucam estimates that domestic demand for sugar will increase after the overall slowdown in activity caused by the coronavirus pandemic. This demand will be boosted by the return to school and the gradual revival of commercial activities. This application “will be even higher towards the end of the year», Projects the company.

Finally, Sosucam informs that to meet consumer demands in terms of quality and safety, its distribution networks choose products guaranteeing maximum safety and traceability.

Note that if the annual national demand is estimated at 300,000 tonnes, Sosucam (which is the market leader) produces barely 130,000 tonnes. According to the Ministry of Finance, Cameroon spent 3.9 billion FCFA to import 15,575 tonnes of sugar in the first quarter of 2020 to meet national demand.

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