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Exports from UEMOA countries - Contrasting evolution of commodity prices

31/07/2019
Source : AllAfrica
Categories: Raw materials

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Crude oil prices on international markets (WTI, BRENT, DUBAI average), expressed in dollars
US, recorded a year-on-year decline of 17.9% in June 2019.
According to the Central Bank of West African States (Bceao) in its Monthly Bulletin of
statistics-June 2019, regarding the prices of the main raw materials exported by the WAEMU countries,
they saw contrasting trends during the month under review.
They fell for cashew nuts (-33.7%), cotton (-25.7%) and coffee (-14.9%). In contrast,
informs the institution, prices rose by 11.7%, 6.1% and 0.2% respectively for rubber, gold
and cocoa.
Compared to the main food products imported by the countries of the Union, their prices fell
0.8% year-on-year at the end of June 2019.
Regarding policy, the Bceao informs that the main central banks have maintained their rates
directors unchanged during the month of June 2019.
International stock market indices went up, as a whole, at the end of June 2019, in
year-on-year.
The most significant increases were observed at the level of the Standard&Poor's 500 (+8.2%), the
Nasdaq Composite (+6.6%), CAC 40 (+4.0%), Euro Stoxx 50 (+2.3%), Dow Jones (+2.2%) and DAX
(+0.8%).
On the foreign exchange market, the European currency depreciated at an annual rate against the yen
Japanese (-4.6%) and the US dollar (-2.6%). On the other hand, it appreciated by 3.5% and 2.0%
against the Chinese yuan and the British pound respectively.

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