From January to March 2023, the price of forest products (timber) exported from CEMAC countries (Cameroon, Congo, Gabon, Chad, Central African Republic and Equatorial Guinea) increased by 4.1% quarter-on-quarter. According to the Commodity Price Composite Index (ICCPB) published by the Central African States Bank (BEAC), a co-issuing agency of the Community countries, the overall increase in timber export prices was driven by logs.
Evolution of the CEMAC Export Commodity Price Index (percentage)
According to the ICCPB report, during the period under review, log prices increased by 7.3% compared to the fourth quarter of 2022, reaching $275 per cubic meter; Sawn timber increased by 3.5 per cent to $582.1 per cubic meter. After price stabilization in the previous quarter, the price increase at the end of March 2023 could have a positive impact on export earnings from CEMAC producing countries Cameroon, Congo, Gabon, Central African Republic and Equatorial Guinea.
CEMAC Export Commodity Price Index
This dynamism in log exports comes at a time when the authority recently postponed indefinitely the entry into force of a ban on log timber exports to encourage local processing. However, this measure has been in force for several years in Gabon and entered into force in Congo on January 1, 2023. For other countries of CEMAC, the suspension of log exports is expected to lead to a sharp decline in export earnings in many countries.