According to the composite price index of commodities exported by the six CEMAC countries (Cameroon, Congo, Gabon, CAR and Chad), prices of forest products increased by 2% between October and December 2020. "Veneer sheets, plywood, sawn timber and raw timber are the main vectors of this growth," the Central Bank said in the report just released.
However, although the price increase was once again there, it was less vigorous quarter-on-quarter. Indeed, according to Beac data, in the 3rd quarter of 2020, the prices of forest products exported by Cemac had risen by 4.2%.
With the gradual upturn in economic activity in Europe and China, the two main destinations for wood from Cemac, world prices for forest products should at least stabilise in 2021.
As a reminder, the composite index of commodity prices (ICCPB) is based on the prices of 28 commodities exported by the CEMAC countries, representing 90% of the value of exports from this Community area. The basket is broken down into five major categories, which are energy products, metals and minerals, forest products, agricultural products and fishery products.