The Inter-Employers' Group of Cameroon (Gicam) advocated for a revision of official prices during a meeting organized on March 18, 2022 in Yaoundé, under the chairmanship of the Prime Minister.
Gicam is asking the government to increase the price per litre of refined palm oil to 2,040 FCFA. Either readjustment of 960 FCFA on the approved price is 1100 FCFA. But on the market, it currently sells for 1,300 francs or even 1400 F CFA.
According to Cameroon's largest employers' association, this proportion of price increase should make it possible to compensate for additional import costs. According to Gicam, oilseed refiners have been recording more than CFAF 100 billion in additional costs since 2021.
These are dependent on an increase between January 2021 and January 2022 of 75% in the price per tonne of crude palm oil on the international market. An inflationary trend that would have worsened to +35% between January and March 2022 reports Invest in Cameroon.
According to the Oilseed Refiners Association (Asroc), a structural production deficit has now reached 160,000 tonnes per year. To curb it, the government authorized imports of 143,000 tons of crude palm oil.
