50 FcfaTo Add On Beer Prices

-Trade Minister, MagloireAtangana

Cameroon’s Trade Minister, Luc MargloireMbargaAtangana, has announced that there would be no marked increase in beer prices in 2019.

                This was the fallout of a meeting the Minister had with representatives of five major brewery companies in Cameroon after rumours went viral of an eminent increase in prices of beer and related products which are highly consumed by Cameroonians.

                According to the Minister, the brewery companies have promised to maintain the current prices and there are no plans of changing the status-quo for the time being.

                He also announced that prices of goods of prime necessity like rice, fish would also be maintained, an assurance he got from importers of these products as well.

                However, Minister MbargaAtangana urged local producers to step up their production so as to meet the ever growing demands in the markets. He frowned at the fact that every year Cameroon spends about FCFA 100 billion to import rice from other countries.

                He said if the sector is developed, Cameroon would meet its needs and even supply to other countries which are dependent on her for food supplies.

                The current increase in the State budget from FCFA 4,689 billion to FCFA 4,850 billion and the economic slowdown due to insecurity in some regions, the Government has reviewed taxes up inorder to finance the budget. The increase in taxes on beer production led to speculations that prices of beer would be increased to raise funds.

                The meeting between the Minister and economic operators has reassured the public that the 2018 prices of beer would be maintained or just slightly increased. There’s talk of an increase by 50fcfa.