Cameroon’s export prices rise 6.9% in 2024 according to INS report
Cameroon’s export price index rose 6.9% in 2024, driven primarily by agricultural products, particularly cocoa, rubber, and coffee, according to the National Institute of Statistics (INS)’s 2024 National Accounts report.
The INS, the country’s official statistics body, noted that the price of cocoa led the increase, skyrocketing by 123.4% in 2024, following a 37.1% increase in 2023. Coffee prices also saw a significant rise, though less dramatically. Robusta coffee prices jumped by 68% in 2024, compared to 15% the previous year, while Arabica prices increased by 23.8%, a sharp reversal from the 19.4% drop recorded in 2023. Rubber prices, which fell by 10% in 2023, climbed by 26.8% in 2024.
“Prices, however, fell for cotton (-8.8% after -26.9%) and bananas (-2.2% against 15.5%),” the report said. The decline in hydrocarbon prices from 2023 continued into 2024, with crude oil falling by 2.3% and natural gas by 16.4%. In contrast, prices for sawn timber saw a slight increase of 2.8%, and raw timber prices remained flat at 0%.
