(Business in Cameroon) - Rubber prices rose by 3% in the fourth quarter of 2021, according to the CEMAC composite commodity price index recently published by the central bank BEAC. From US$1.85 per kilogram, the prices rose to US$1.99 per kilogram, the index shows.
The price rise comes after a 15.4% drop in the previous quarter, the BEAC adds. For the central bank, that increase is mainly due to the revival of demand from China and the poor production prospects in Malaysia, the world-leading rubber producer.
The CEMAC composite commodity price index (ICCPB) is based on the prices of the 28 commodities that make up 90% of the goods exported by the countries belonging to the CEMAC community. It is divided into five main categories namely, energy products, metals and minerals, forestry products, agricultural products, and fishery products.