Vegetable oils: the State approves the price per liter at 1500 FCFA

Vegetable oils: the State approves the price per liter at 1500 FCFA

N Melo
by N Melo
July 2, 2022 0

Vegetable oils: the State approves the price per liter at 1500 FCFA

The new rate has been in effect since June 21, 2022.
This price was already practiced in the markets. But it is now official. The liter of refined oil is fixed at 1500 F against 1200 F previously. Disapproved by the government for days, it was finally acted upon after consultations between players in the oilseed sector and the State. This new price, we learn, stems from the explosion in the prices of raw materials and international freight, coupled with the Russian-Ukrainian crisis.

In the markets and supermarkets of the country, the liter of oil is even speculated. It costs 1600 F, 1700 F, or even more. Indeed, the actors of the sector explain that the price of the ton of palm oil having increased, it was more than logical that the impact is felt on the final price. This increase was therefore predictable. We remember that on March 18, the Inter-employer Group of Cameroon (Gicam) and the government had consulted.

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The employers then pleaded for a revision of the final price of a liter of refined palm oil to 2,040 FCFA. This increase, according to Gicam, should make it possible to compensate for the additional import costs of more than 100 billion FCFA recorded by oilseed refiners since 2021. These additional costs are the result of a 75% increase in the price per tonne of oil. crude palm oil on the international market.

At the end of April 2022, the ton of crude palm oil received at the port of entry of Rotterdam (Netherlands) crossed the historic bar of 2,000 dollars, an increase of 50%. In view of the current inflationary situation, hope the players in the sector, all eyes are now on local production to curb the deficit which amounts to 160,000 tonnes per year.

N Melo
NM
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