The three-day workshop organised by the World Cocoa Foundation, starts in Douala today.

Farmer organisations, cocoa cooperatives, exporters and other stakeholders from across the country start meeting in Douala today, Monday October 24, for a three-day workshop on cocoa price risk management. Organised by the World Cocoa Foundation’s Cocoa Livelihoods Programme with the technical collaboration of the World Bank’s Agricultural Risk Management Team, ARMT, the training is designed to educate cocoa market actors about the risks of unmanaged price exposure and ways of mitigating such exposure.

According a press release issued by the organisers, the workshop is designed as a training of trainers as participants are expected to facilitate the course for local farmer organisations, financial institutions and exporters. The course aims to help participants better understand and quantify price risks and acquire the knowledge and tools required to better manage the effects of volatile prices. “We hope the training will assist participants in better managing their exposure to price risks they face,” says the World Bank consultant leading the training, Nabs Suma, in the release.

Cocoa has been receiving much attention from Government and international organisations for its capacity to boost export earnings and fight poverty in rural areas. From 177,538 metric tonnes produced during the 2004-2005 cocoa season, commercialised production reached 200,000 metric tonnes at the end of the 2008-2009 season. Equally, the average price per kilogramme of cocoa has tripled; rising from FCFA 400 in 2004 to FCFA 1,200 in 2011.