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Economy

CEMAC: The Composite commodity index rose by 19.6% in Q3-2020, BEAC indicates

CEMAC: The Composite commodity index rose by 19.6% in Q3-2020, BEAC indicates
  • Comments   -   Monday, 16 November 2020 16:28

(Business in Cameroon) - Between July and September 2020, the international prices of CEMAC countries’ main export products rose after a rather sluggish trend in Q2-2020.  

According to the central bank BEAC, "the price index of commodities exported by CEMAC countries rose by 19.6% (during the period under review), after declining by 28.9% in the 2nd quarter of 2020." This improvement, we learn, follows "the rise in the price of most of the said products (...), except for minerals and metals. "

The BEAC explains that the composite index of commodity prices is based on the prices of 28 commodities exported by CEMAC countries. These products account for 90% of the value of the member countries' exports.  The index is constituted of five major product categories, namely energy products, metals and minerals, forest products, agricultural products, and fishery products.

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