(Business in Cameroon) - During Q1, 2018, the fall of some commodities’ prices affected Cameroon’s budgetary revenues negatively, the finance ministry revealed in a report on the budget implementation.
During the period under review, arabica and robusta coffees’ prices dropped respectively by 16.2% and 15.7% on a year-on-year basis. Arabica was sold at 121.3 US cents per pound while that same quantity of robusta was 93.1 cents. As for rubber, the average price dropped by 9.8% to stand at 362.6 US cents per kilogram while the average price for palm oil dropped to $673.7 per tons (a fall by 3.6% on a year-on-year basis).
Due to these drops, Cameroon was unable to meet its target as far as budgetary revenues are concerned. The country’s target was CFA1,164.7 billion but, by end March 2018, it only generated CFA996.3 billion which represents a realization rate of 85.5%.
Let’s note that during the period under review, the average prices of oil, steel and cocoa rose respectively to $66.8 per barrel (+23.5%), $2,157.9 per ton (+16.8%) and $2,182.5 per ton (+4.8%).