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Agricultural exports from Central African countries (Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and CAR) saw a significant 29.5% price increase between Q4 2023 and Q1 2024, according to the Composite Commodity Price Index (CCPI) from the Central Bank of Central African States (BEAC).
This upswing is attributed to improved prices for commodities such as cocoa and rubber during the period under review. “The most significant positive variations were observed in cocoa (43.6%), rubber (25.8%), coffee (12.3%), and palm oil (8.0%) markets. However, a price decrease was noted in the sugar market (-9.8%),” BEAC reveals.
Overall, the sustained upward trend is linked to international tensions arising from conflicts in the Middle East, major disruptions in global supply chains, and climatic upheavals leading to adverse weather conditions, Beac noted.
It’s worth noting that the CCPI is based on the prices of 20 basic commodities exported by CEMAC, representing 90% of its export values. The basket comprises five major categories: energy products, metals and minerals, forest products, agricultural products, and fishery products.