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Agriculture

CEMAC: prices of agricultural export commodities dropped by 7.6% in Q2-2020 (BEAC)

CEMAC: prices of agricultural export commodities dropped by 7.6% in Q2-2020 (BEAC)
  • Comments   -   Tuesday, 22 September 2020 14:01

(Business in Cameroon) - In Q2-2020, the global prices of agricultural products exported by CEMAC countries dropped by 7.6%, according to the commodity price index recently published by the central bank BEAC. The drop has thus worsened quarter-over-quarter because, in Q1, it was just 1.9%.

According to the BEAC, this pronounced drop was due “to the decrease in demand because of the coronavirus pandemic and an accumulation of the stock of some products like palm oil and cocoa.”  

During the period under review, the products that recorded the largest drops were sugar (-18.7%), palm oil (-15.7%), caoutchouc (-14.9%), and cocoa (-11%). On the other hand, the price of rice rose by 15.4%, the central bank reveals.

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