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Agriculture

Cemac: The price index of agricultural products was spurred by three products in Q3-2020, the BEAC reveals

Cemac: The price index of agricultural products was spurred by three products in Q3-2020, the BEAC reveals
  • Comments   -   Wednesday, 18 November 2020 16:10

(Business in Cameroon) - In Q3-2020, the price index of agricultural products exported by CEMAC countries grew by 2.2%. Compared with the 1.9% growth in Q2-2020, this reveals a 0.3 percentage growth quarter-over-quarter. According to the central bank BEAC, the growth was mainly spurred by three products.

Indeed, in a recent report, the central bank indicates that the highest rise was recorded in the prices of caoutchouc (23.6%), palm oil (22.8%), and sugar (14.6%). “The rise in the price of caoutchouc can be explained by the drop in the offer and the upturn in automobile production in China,” the BEAC adds.

Small variations were observed in the prices of coffee (8.0%), cotton (6.2%), banana (1.7%), cocoa (1.3%). There was no change in the price of acacia gum but there was a negative change in the prices of beef (-4.7%), rice (-4.0%), and tobacco (-1.8%),” the document continues.

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