Cocoa exports from Sao Tome and Principe provide revenues of US$5.5 million in 2013

18 February 2014

Sao Tome and Principe netted around 99.8 billion dobras (US$5.5 million) from cocoa exports in 2013, which accounted for 92.4 percent of the country’s agricultural exports last year, the archipelago’s National Statistics Institute (INE) said Monday in Sao Tome.

INE said that in terms of nominal value in dobras (Sao Tome’s currency) posted a year on year rise of 8.5 percent due to “the higher price of cocoa”.

In terms of quantity, there was a rise of 17.4 percent in the period with cocoa exports rising from 2229.5 tons in 2012 to 2617.1 tons in 2013.

The remaining 7.6 percent on the list of exported agricultural products was made up of coconut, coconut oil, copra and coffee.

The list of Sao Tome cocoa exporters in 2010 was topped by Cooperativa Exportação de Cacau Biológico (Cecab), followed by Sociedade Agro-Comercial (Agricon) and Sociedade de Comércio, Gestão e Investimento (CGI).

The main importers of Sao Tome’s cocoa were Portugal, the Netherlands and Belgium.

Despite some attempts to find oil, cocoa remains the basis of the Sao Tome and Principe economy and the country depends on foreign aid for over 80 percent of its financial needs. (macauhub)