Business

Increase in Cameroonian lumber prices on the international market following the revaluation of the export tax

Timber producers in Cameroon have immediately revised upward the prices of sawn timber on the international market, to coincide with the increase in the export tax on logs, decided by the government in the 1990s framework of the 2018 Finance Act, and entered into force on 1 January 2018.

According to the International Tropical Timber Organization (OIBT), which reports this information in its economic report last January, if for the moment the proportion of the increase in sawnwood prices from Cameroon is very small, this could be more important in the coming weeks.

As a reminder, between 2016 and 2018, the tax on the export of logs in Cameroon rose from 17.5% to 30%.

According to the analysis of tax experts, this repeated increase in the export tax on logs is intended not only to increase tax and customs revenue, in a context marked by a general decline in government revenue, but also especially to encourage the local processing of wood, which is a source of employment.

According to various reports of the National Port Authority (NPA), since 2011, wood (sawn and logs) is the leading export product in Cameroon excluding hydrocarbons, with volumes that often exceed 50% of global exports, oil gross not included.

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