From January to March 2023, the prices of forest products (timber) exported by CEMAC countries (Cameroon, Congo, Gabon, Chad, Central African Republic and Equatorial Guinea) increased by 4.1% quarter-on-quarter. According to the Composite Index of Commodity Prices (ICCPB) published by the Bank of Central African States (BEAC), the common issuer of the Community countries, the overall increase in timber export prices was driven by logs.
According to the ICCPB report, during the review period, compared to the fourth quarter of 2022, the price of logs increased by 7.3% to $275 per cubic meter; sawn timber increased by 3.5% to $582.1 per cubic meter. After stabilizing prices in the previous quarter, the price increase at the end of March 2023 may have had a positive impact on the export earnings of CEMAC producers Cameroon, Congo, Gabon, Central African Republic and Equatorial Guinea.
This dynamism in log exports comes as the authority recently postponed indefinitely the entry into force of a ban on log lumber exports to encourage local processing. However, this measure has been in force for several years in Gabon and will come into effect in Congo on January 1, 2023. For the rest of CEMAC, the halt to log exports is expected to lead to a sharp drop in export earnings for many countries.