One Year After Cargill Split, Cameroon’s Telcar Cocoa Regains Export Lead With 40,631 Tons

Telcar Cocoa has regained the top position among Cameroon’s cocoa exporters, shipping 40,631 tons during the 2025/2026 season. The rebound comes one season after the company lost its longstanding leadership following the end of its partnership with US agribusiness group Cargill. Figures from the National Cocoa and Coffee Board of Cameroon (NCCB) show that Telcar accounted for 32.38% of the country’s cocoa bean exports during the season. It finished ahead of OFI Cam, which exported 24,394 tons for a 19.44% share, and SBET, with 23,223 tons or 18.50%. Together, the three exporters controlled 70.32% of the market.

Detailed NCCB figures put Telcar’s exports at 40,631,173 kg. These shipments generated a FOB value of CFAF133.36 billion. Telcar had initially contracted 46,037 tons and pre-liquidated 43,074 tons during the campaign. The performance marks a turnaround from the 2024/2025 season. According to figures previously reported by Business in Cameroon, Telcar exported 30,497 tons that season. Its market share fell to 15.7%, from 35.1% in 2023/2024 and 35.8% in 2022/2023. SBET consequently moved ahead of Telcar with 36,215 tons and an 18.7% market share.

The decline followed the end of Telcar’s nearly two-decade partnership with Cargill in early 2025. The US group held a 49% stake in Telcar and had been a major international buyer of its cocoa. The 2025/2026 results show Telcar increased its export volumes by more than 10,000 tons from the previous season. Its market share also more than doubled, even as the overall volume of cocoa exported from Cameroon contracted sharply.

Export market shrinks

NCCB data show Cameroon exported 125,469 tons of cocoa beans during the 2025/2026 season. This was down 66,544 tons from 192,013 tons a year earlier. The number of registered exporters, however, increased from 45 to 50. The contraction was also reflected in export earnings. Cocoa bean exports generated CFAF400.92 billion in FOB value, compared with CFAF1.075 trillion during the previous campaign. This represents a decline of CFAF673.72 billion, or 62.69%, according to the NCCB.

The fall came amid lower production and weaker international cocoa prices. National marketed production dropped 20% to 247,915 tons, from 309,518 tons in 2024/2025. Exports fell to their lowest level in the six seasons covered by the NCCB’s comparative data.

International market conditions also changed during the campaign. NCCB data, drawing on International Cocoa Organization figures, show London cocoa prices reached £5,786.67 per ton early in the season before falling to £2,102.33 on February 27, 2026. The decline followed improving global production, greater export availability and weaker demand.

Despite the separation from Telcar, Cargill remained the largest buyer of cocoa of Cameroon origin during the season. NCCB figures show it received 47,929 tons, equivalent to 38.20% of total bean exports. Olam International followed with 23.21%, while Touton accounted for 11.35%. The three buyers absorbed 72.76% of shipments.

Europe remained the main destination for the country’s cocoa trade, taking 84.62% of shipments, compared with 14.24% for Asia. Telcar’s latest export volume nevertheless remains below its previous highs. The company exported about 74,000 tons in 2016/2017.

Mercy Fosoh