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Ramadan/Easter: Government announces subsidized beef sales to support households

Ramadan/Easter: Government announces subsidized beef sales to support households

Paru le jeudi, 21 mars 2024 04:21

Cameroon’s Trade Minister, Luc Magloire Mbarga Atangana, announced on March 18 that promotional beef sales are being organized nationwide as part of consumer goods promotional campaigns overseen by his department.

The sales, which offer boneless meat at  XAF2,500 per kilo and bone-in meat at XAF2,000 per kilo, are taking place in Yaoundé on the Boulevard du 20 mai, at the MEEC crossroads in Yaoundé VII and on the esplanade of the former Kondengui sub-prefecture in the Yaoundé IV. These prices are XAF500 less than those in conventional markets.

Atangana stated that the operation, which runs until April 16, is in response to directives from the Head of State. The aim is to support households during Ramadan and Easter, periods typically marked by a surge in meat demand. The promotional sales are occurring against a backdrop of steadily rising international food prices and persistent inflationary pressures.

Inflation continues to erode household purchasing power in Cameroon. The National Institute of Statistics (INS) reported a 5.2% rise in the general price level in January 2024 compared to January 2023, primarily due to a 5.4% increase in food prices and a 17.0% hike in transport costs. The INS predicts that the inflation rate will hover around 7% this year, more than double the 3% threshold permitted in the CEMAC zone (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea).

To combat inflation, the Ministry of Trade hosts promotional sales events. These events connect consumers directly with producers, importers, and manufacturers, resulting in lower prices on essential goods.

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