# MONTHLY ECONOMIC REVIEW
N° 003 March & April 2025
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GECAM
Groupement des Entreprises du Cameroun
Monthly Economic Review By GECAM
N° 003 March & April 2025
# 1. MAIN RAW MATERIALS PRICES
Wheat. Wheat prices have been on a downward trend since March. In fact, the peak of $214.76 seen in February is gradually fading back to the stable trend seen since October 2024. This trend can be explained by falling demand, combined with a favourable production outlook. The fall in demand is due in particular to the upward revision of wheat stocks in the United States, while the return of favourable rainfall conditions in the northern hemisphere justifies the expected increase in supply...
Cocoa. The price remains at the high level reached in 2024, at an average of $8,000 per tonne. The fall in production in the leading cocoa-producing countries (Côte d'Ivoire and Ghana) due to unfavourable weather conditions and crop disease explains this trend.
Coffee. The daily trend in coffee prices stabilised in March, in contrast to the previous month, reflecting a decline in speculation on supply, which has had the effect of amplifying the tensions already present on this market. The price therefore remains well above its level of a year ago, as a result of production underperformance combined with growing demand.
Cotton. The price of cotton has been relatively stable since February, following the downward trend observed since the third quarter of 2024. This stability is justified by growing supply, with an anticipated increase of almost 7% for the 2024-2025 season. The increase in production is due in particular to the expansion of cultivated areas in China, Brazil, the United States and Australia. Estimates of lower production in India and Pakistan could explain the slight increases seen in April.
Petroleum. Daily quotations show that oil prices reached their lowest level since 2021 in April. This downward trend is the result of a combination of factors, the most recent of which is the fear of a recession in the United States as a result of the current trade war. This is in addition to rising oil production in non-OPEC countries and falling demand, particularly from China, which is undergoing an energy transition.
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GECAM Groupement des Entreprises du Cameroun Monthly Economic Review By GECAM N° 003 March & April 2025
# 2. SUB-REGIONAL ECONOMIC NEWS
Economic activity showed positive momentum in the 3rd quarter of 2024
This is what emerges from the BEAC's recent publication of the change in the CEMAC Composite Index of Economic Activities (ICAE) for the 3rd quarter of 2024. The CAEI rose by 6.2% year-on-year in 3Q2024, after 5.7% in 2Q2024 and 1.0% a year earlier. This momentum was driven by hydrocarbons; mining, supported by the good performance of manganese; and construction and public works.