Wednesday , May 25 2022

Cemac: The commodity market has fallen sharply


The rising trade tensions between major economic powers and the pressure on the financial market in some emerging and developing economies are the cause of the decline in the commodity market.

Thus, during the review period, the Bank of Central African States emphasizes the total price index of goods exported by the Economic and Monetary Community of Central Africa (CEMAC) of 0.3% compared to the second quarter of 2018 due to a general fall in the price of products, excluding energy products.

In general, prices of agricultural products (-8.6%), fishery products (-3.8%), forest products (-3.8%) and metals and minerals (-1.5%). Energy prices rose slightly by 1.2%, which reduced the effect of a general fall in prices.

These products grew by 1.3% in the third quarter of 2018, especially due to the prospect of a renewal of US sanctions against Iran and the expected continued decline in production in Venezuela. At the end of the third quarter, the barrel of oil was $ 75.4, compared with $ 72.0 at the end of the previous quarter.

The non-energy price index fell by 1.2%, mainly due to lower prices of forest products (-0.2%) and agricultural products (-0.1%). on the plethora of offers and commercial disputes.

Prices for most goods fell by 8.6% in the third quarter of 2018, after increasing at the beginning of this year. This decline is mainly due to the revision of crop production estimates upward and, to a lesser extent, the depreciation of the currency of the main exporters of agricultural products.

Source link