(Business in Cameroon) - Between October and December 2020, the price index of agricultural products exported by CEMAC countries increased, according to the Bank of Central African States (BEAC).
This price index was mainly boosted by the three main export products, we learn. The said products are rubber (+35.2% growth during the period), palm oil (+20.57%), and cotton (+11.63%).
"Cotton prices rose due in particular to the decline of the US dollar, the revival of Chinese demand, and poor crop prospects," the Beac indicates in its report on the price index of commodities exported by CEMAC in Q4-2020.
For palm oil, the central bank explains that its prices were boosted by "production disruption fears that are perceptible with targeted confinements in Malaysia (...), and also heavy rainfall expected in the world's two largest producers: Indonesia and Malaysia."
With the gradual recovery of the world economy announced in 2021, despite the fears of a 2nd wave of the coronavirus pandemic, the prices of agricultural products exported by CEMAC countries will surely stabilize in the coming months. They can even rise due to increased demand.