YAOUNDE, July 2 (Xinhua) -- Cameroon will work to ensure the supply of commodities and keep their prices stable, to maintain steady economic performance, two government officials told the National Assembly on Friday.
Prices of basic commodities in the Central African nation have risen sharply since January due to the war in Ukraine and disruptions caused by COVID-19 pandemic, the Trade Minister Luc Magloire Atangana Mbarga said.
"The price of a litre of palm oil before the crisis was 500 xaf (0.8 USD), now it is 1,100 xaf. Between January and now, the price of flour has doubled," Mbarga told reporters after explaining to lawmakers how and why food prices were skyrocketing.
"Products are available on the market. We will continue to preserve the purchasing power to be sure that at any circumstance, Cameroonians will find what they need. We are buying palm oil from Gabon," he said.
He said government will intensify import substitution policy in a bid to fight inflation which has increased to four percent.
Gabriel Mbairobe, the Minister of Agriculture and Rural Development, said the price of fertilizer was particularly affected and added that government was working to enable producers meet demand and boost yields.
"The government has put in place plans to support farmers especially small-scale farmers. We support the price of the fertilizer about 30 percent. We will make available improved seeds for farmers. We will strengthen capacity of small farmers by providing them equipment and tools," Mbairobe said. ■