COVID-19: Price Of Timber Exports From CEMAC Countries Down By 1%
The COVID-19 pandemic continues to have a negative effect on the economies of the Central African Economic and Monetary Commission (CEMAC) countries and the forestry sector in these nations has been having its own share of white nights.
According to the global index of the prices of products exported from the CEMAC zone, the cost of forestry products globally dropped by one percent during the second trimester from April to June, 2020.
The CEMAC countries involved are Cameroon, Gabon, the Central African Republic, Chad, the Republic of Congo and Equatorial Guinea.
“However, the increase in prices observed in the raw wood market of 9.9 per cent helped a little bit to attenuate this dynamic”, declared the Bank of Central African States (BEAC).
This is an indication that there is a strong demand for raw wood at a time when countries of the Lake Chad Basin are envisaging the ban on exportation of timber logs.
The ban is in a bid to force forestry exploiters to add more value to forestry products locally by increasing the quantity of timber treated locally before being exported.
Excluding raw timber and logs, which have been resisting the drop in prices of practically all raw materials worldwide, the prices of transformed timber have all seen a downward bend during the second trimester of the current year.
The Bank of Central African States report on price index indicates that the cost of sawed timber has depreciated by 3.1 per cent.
The same level of drop in price has also been observed in the cost of plywood and other wooden products.
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