(Business in Cameroon) - The Cameroonian Ministry of Commerce announced yesterday a significant reduction in rice prices effective Friday. This price adjustment follows the arrival of a portion of the 190,000 metric tons of rice negotiated with India. The minister, Luc Magloire Mbarga Atangana, detailed that the price for a 50 kg bag of Indian broken rice (with 25% and 5% breakage) will decrease by CFA70 to CFA90 per kilogram in the cities of Yaoundé and Douala. The revised prices set the 25% broken variety at CFA22,250 in Douala (CFA445/kg) and CFA23,000 in Yaoundé (CFA460/kg). The 5% broken rice is now priced at CFA23,500 in Douala (CFA470/kg) and CFA24,000 in Yaoundé (CFA480/kg).

The price reduction also extends to Pakistani broken rice, with decreases ranging from CFA20 to CFA50 per kilogram in the same cities. Thus, bags of 25% and 5% broken rice now cost respectively CFA24,250 (CFA485/kg) and CFA26,000 (CFA520/kg) in Douala, compared with CFA25,000 (CFA500/kg) and CFA26,500 (CFA 530/kg) in the capital.

Similarly, Thai broken rice has seen a price reduction of CFA15 to 50 per kilogram across the cities. In Douala, 25% broken rice is now selling for CFA24,500 (CFA490 /kg) and 5% broken rice for CFA26,250 (CFA525/kg). Prices in Yaoundé are marginally higher.

Minister Mbarga Atangana emphasized that this price reduction is uniform across other cities in Cameroon, adjusted for transportation costs. He has issued strict instructions to his department's control teams to ensure these new prices are effectively implemented to benefit consumers.

This price drop is the result of "intense negotiations" with industry operators and arrives after the first shipments from a special quota of 190,000 tons of rice negotiated with the Indian government. India, which had suspended exports of non-Basmati white and broken rice in July 2023 to focus on domestic needs and prevent food shortages or inflation, granted a special import quota in October to seven countries, including Cameroon. This measure aims to maintain the availability and affordability of this staple food amid local inflation and ensure a security stock to meet national demand and prevent any supply disruptions.