Cameroon’s banana exports increased by 21.5 per cent in the first nine months of 2026, strengthening the country’s performance in international fruit markets even as persistent financial losses at its largest exporter raise questions about the profitability of the expanding trade.
The country exported 194,273 tonnes of bananas between January and September 2026, up from 159,952 tonnes during the same period in 2025, according to figures from the Cameroon Banana Association (Assobacam). The increase of 34,321 tonnes represents a faster pace of growth than the 7 per cent expansion recorded across the whole of 2025, when exports reached 225,345 tonnes.
September contributed to the stronger performance. Exporters shipped 29,019 tonnes during the month, compared with 22,720 tonnes in September 2025, an increase of 27.7 per cent. It was the second-highest monthly export volume recorded in 2026, after January’s 31,257 tonnes.
The growth, however, remains concentrated among a small number of producers. Plantations du Haut Penja (PHP), a subsidiary of French fruit group Compagnie Fruitière, exported 133,583 tonnes during the nine months, accounting for 68.8 per cent of Cameroon’s total shipments. Together with the group’s other local subsidiary, Compagnie des Bananes de Mondoni (CDBM), PHP accounted for 159,226 tonnes, or nearly 82 per cent of national exports.
CDBM shipped 25,643 tonnes, already surpassing its full-year 2025 total of 23,814 tonnes by 7.7 per cent. Its expansion follows the acquisition of the Missaka plantation from Boh Plantations in October 2025, while PHP took over Boh’s Mbonjo plantation. The acquisitions expanded the group’s production base, although Assobacam’s statistics do not separate shipments from the acquired assets from output at the companies’ existing plantations.
The Cameroon Development Corporation (CDC), the state-owned agro-industrial company, exported 35,047 tonnes during the first nine months, representing approximately 18 per cent of national shipments. Its plantations, largely located in the conflict-affected Southwest Region, have faced operational disruptions linked to the country’s prolonged Anglophone crisis.
Despite the industry’s stronger export performance, PHP’s financial position remains a concern. The company recorded a net loss of CFA5.78 billion (about $10.1million) in 2025, following a loss of CFA4.62 billion ($8.1 million) in 2024. Its combined losses over the two years reached CFA10.4 billion ($18.2 million).
PHP’s revenue fell by 32.4 per cent in 2025, declining from CFA84.8 billion (about US$148.5 million) to CFA57.3 billion about $100.4 million). Yet its banana export volume declined by only around 1 per cent, from 153,258 tonnes in 2024 to 151,713 tonnes in 2025. The disparity shows that relatively stable shipment volumes did not prevent a substantial deterioration in the company’s financial results.
Market conditions may have contributed to the pressure. World Bank data cited by Cameroon’s Ministry of Economy indicated that average global banana prices fell by around 11.2 per cent in 2025 amid increased supply and competition among producing countries. However, PHP’s financial statements do not provide sufficient detail to determine how much of its revenue decline resulted from banana prices, other business activities or operating costs.
By the end of September 2026, Cameroon had already exported more than 86 per cent of the volume recorded for the whole of 2025. If fourth-quarter shipments match the approximately 65,400 tonnes exported during the same period last year, annual exports could approach 260,000 tonnes. This is an illustrative scenario..
NBF Insight
Cameroon’s banana industry is demonstrating stronger export momentum, but shipment growth alone does not establish whether producers are becoming more profitable. PHP’s financial performance highlights the distinction between commercial scale and financial resilience: a company can maintain export volumes while experiencing a sharp decline in revenue and accumulating losses.
The industry’s concentration also deserves attention. With PHP alone accounting for more than two-thirds of national shipments, its financial health has implications for the wider export sector. Meanwhile, CDBM’s rapid expansion and the acquisition of former Boh Plantations assets could strengthen the group’s position, but the available data do not yet reveal how much of the additional volume represents new production rather than transferred capacity.
For Cameroon, the next test is whether stronger exports can translate into sustainable revenue, improved margins and more resilient production. The final-quarter shipment figures will show whether the export expansion continues; PHP’s subsequent financial results will be needed to establish whether that growth is translating into a genuine recovery.
