Industrial wood production prices in Cameroon increased by 3.4% during the second quarter of 2024, according to the National Institute of Statistics (INS). This rise follows an ongoing upward trend, with prices up nearly 12% since the beginning of the year. The data was revealed in the quarterly Industrial Producer Price Index (IPPI) report, published on September 23, 2024.

At the start of 2024, the INS reported a 12.5% price increase. Since 2021, production prices in the wood industry have consistently risen. Although the INS did not provide detailed reasons for the steep hike, it is likely tied to the increase in fuel prices that took effect on February 3, 2024. Diesel, widely used by many industrial units to cope with frequent power outages, saw its price per liter rise for the second time in two years, which likely pushed up production costs for wood processors.

More broadly, industrial production prices have been climbing since early 2024, starting with a 0.9% annual increase, which accelerated to 1.6% in the second quarter. The wood industry and wood products manufacturing saw a 12% rise, while the printing and paper manufacturing industries grew by 7%. However, these gains were offset by declines in other sectors, including a 5.8% drop in furniture manufacturing, a 4.3% fall in machinery and equipment production, and a 3.6% decline in metalworking and metallurgy.

The IPPI, published quarterly by the INS, tracks changes in the prices of industrial goods produced in Cameroon. It measures factory prices, excluding taxes, subsidies, and transport margins. The IPPI covers various sectors, including extractive industries, manufacturing, electricity, gas, and water production and distribution, as well as waste management and environmental services.

Source:  vdma.org