RE: RICE PRICE HIKE IN CAMEROON

I think the issue has to do with smuggling. Nigeria recently placed 100% duty on imported rice to discourage importation and encourage local cultivation and this has resulted to a lot of smuggling of rice from Cameroun, Benin etc.
 
The price increases in Cameroon is mainly due to rice smuggling to Nigeria.
 
Regards
 
Tumasang
 

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Date: Tue, 1 Oct 2013 07:42:07 -0700
From: bateygreig20@yahoo.ca
Subject: RE: RICE PRICE HIKE IN CAMEROON
To: mincam@yahoogroups.com; MANYUNET@aufoundation.org; ambasbay@googlegroups.com; CameroonGroup@yahoogroups.com

 The Times Cameroon

Rice prices in Cameroon have gone up by 25%.

Image:Business in Cameroon

The country's most common and staple foods has seen price increase in imported rice mainly from Pakistan and Thailand.

A kilo of the imported produce usually retailing at CFA 400 shot up to CFA 500, a steep 25% price increase, while a 50kg bag of rice previously sold at CFA 17,500 now sells at CFA 19,500; marking an increase of almost 11.5%

Retailers have blamed the hike in price to a fall in supply while dissatisfied consumers have voiced their anger at increasing sky high prices not meeting their disposable incomes, which unlike commodity market prices, do not routinely rise.

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