THE AFRICAN BUSINESS FORTUNE MAGAZINE ISSUE #006 The African Business Fortune Magazine | Page 19

THE AFRICAN BUSINESS FORTUNE - UGANDA

Which way for Uganda’s cocoa industry?

C

ocoa is one of Uganda’s leading foreign exchange earners, according to
the latest figures from the Cocoa Development Project (CDP).
In comparison to EAC markets in the region as well in the continent, Uganda earns
about 85 per cent of the international cocoa
market price – for a country that earned
about $67m (Shs225.8b) last financial
year yet it is not among the 12 crops which
Uganda is giving priority.
As at September 2015, a kilogram of dried

By Correspondent
cocoa beans was selling at Shs9, 600 up
from Shs6, 000 a year ago.
Uganda earns the best of the world
market price despite increase in production in the country, compared to other
countries like Ivory Coast and Ghana
that get one dollar per kilogram. Uganda
gets three dollars.
Strong performance
The 2014/2015 policy statement from
Uganda’s ministry of Agriculture shows
that cocoa exports more than doubled in

the first half of the 2013/2014 financial
year. This is 9,973 metric tonnes from
4,727 metric tonnes, which is exported
in the first half of 2012/2013 financial
year.
This was at the back of a strong performance in the second quarter where
57 per cent of exports were recorded.
Earnings from cocoa followed a similar
trend, increasing from $9m (Shs30.3b)
in the first half of 2012/2013 to $17.2m
(Shs58b) in the first half of 2013/2014.

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