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Yaoundé - 27 January 2023 -
Agriculture

Cameroon: Agriculture to suffer setback in Q4 2022 over higher input costs

Cameroon: Agriculture to suffer setback in Q4 2022 over higher input costs
  • Comments   -   Thursday, 13 October 2022 18:14

(Business in Cameroon) - Although economic operators and administrations in Cameroon are very optimistic about the evolution of activities in the fourth quarter of 2022, the primary sector is forecasted to be timid over the period, especially the agricultural segment.

According to Beac's business cycle forecast, this sluggishness in the primary sector will stem from "the lack of enthusiasm of producers, since inputs are now very expensive, particularly fertilizers”. Indeed, the war between Russia and Ukraine has led to an increase in the prices of fertilizers, grains, and many other raw materials and inputs on the international market. Following the sanctions imposed by its Western peers, Russia - a major producer of grain (wheat) and fertilizer - is now using its production as a weapon to retaliate. In addition to this, the international market is also experiencing a sharp increase in the cost of sea freight, which has in turn boosted the prices of fertilizer and other input imports.

Data compiled by the National Institute of Statistics (INS) indicate that fertilizer accounts for 17% of Cameroon's imports from Russia, making this country Cameroon's leading supplier of fertilizer, with a 43% market share, compared with only 11% for China.

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