Cameroon increases log export duties

Quelle:
ITTO/Fordaq
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1400
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A considerable surge in log FOB asking prices was recorded in Central/West Africa. This is the result of producers trying to pass on a new 15% increase in export duties on logs imposed by the government of Cameroon.

The move by producers to raise asking prices by the full 15% export duty is perhaps optimistic.

Only over the coming weeks will a clear picture emerge of how buyers are responding. The increased prices, say producers, applies to all markets.

Previous discussions had been on an export quota system similar to that adopted by the Republic of Congo but there were concerns in Cameroon that this could lead to a reduction in revenues from the forestry sector which are significant.

So far there has been little effect on sawnwood FOB prices with most producers in the region proposing prices which are only slightly above levels before the log export tax.

Sawnwood traders in Central/West Africa appear to be waiting to see the response in the log market but eventually higher log prices will have a ripple effect on sawnwood prices.

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