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Cemac: Timber export prices up 4.1% QoQ in Q1 2023

Cemac: Timber export prices up 4.1% QoQ in Q1 2023
  • Comments   -   Wednesday, 26 April 2023 13:04

(Business in Cameroon) - The prices of timber exported by Cemac countries rose by 4.1% QoQ between January and March 2023, according to the Composite Commodity Price Index (ICCPB) published by the central bank Beac.

This improvement, Beac says, was mainly driven by the log segment. Compared to the previous quarter, log prices increased by 7.3% to $275 per cubic meter while the prices of sawn timber grew by 3.5% to $582.1 per cubic meter: Good news for the Cemac producer countries.

This dynamic in log exports comes as the Cemac public authorities recently postponed sine die the entry into force of the ban on log exports. The idea behind this policy is to encourage local processing. Yet, suspending log exports will lead to a drop in export revenues in many Cemac countries. Let’s, however, note that the ban has been in force in Gabon for several years, and in Congo since January 1, 2023.

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