The prices of the main commodities exported by the countries of the West African Economic and Monetary Union (UEMOA) recorded an increase of 4.0% in May, after an achievement of -0.1% in April 2021. This performance was boosted by the economic recovery and improving global growth prospects.

According to data from the Central Bank of West African States (Bceao), the prices of raw materials exported by UEMOA countries broke with their downward trend during the month of May 2021, under the effect of the recovery in global demand. At the same time, the prices of imported food products accentuated their upward trend. The banking institution notes that the price increases concern energy products (+6.5% after -0.6% in April 2021), as well as the prices of non-energy products (+3.5% against +0.0 % in April 2021).

In its "Monthly note on the economic situation, the central bank stresses, in the process, that the rise in the prices of non-energy raw materials exported by the countries of the Union concerns in particular coffee (+8.7% against -0, 5%), rubber (+6.4% against -3.8%), gold (+5.2% against +2.4%), palm oil (+4.6% against + 4.8% ), cashew nuts (+3.1% against +3.8%) and palm kernel oil (+2.8% against -0.2%). Also according to the Bceao, gold prices remain supported by the weak dollar and falling government bond yields around the world. The tightening of world supply, in connection with the drop in stocks, and the vigorous demand supported, according to the same source, the prices of palm oil and palm kernel oil. Cashew nut prices benefited from lower inventories, combined with increased demand for the product.