The international market for agricultural and forestry products is constantly evolving, with price fluctuations that directly impact economic players. According to the national mercurial commission, this week from November 6 to 11, the prices of many agricultural and forestry products in the Democratic Republic of Congo (DRC) experienced stability, with the exception of cocoa which increased slightly.
A kilo of cocoa rose from $2.14 to $2.19 this week, while Robusta coffee saw a slight decline, from $2.48 to $2.42 per kilo. This situation reflects the usual fluctuations in the international market, where prices are often influenced by various factors such as supply and demand, weather conditions and economic policies.
At the same time, the Central Bank of Congo (BCC) published an economic note highlighting an increase in the confidence of business leaders in September 2023. This increase is observed in most sectors of activity, exception of the manufacturing industry, which suffers from disruptions in the supply of electricity. This increased confidence is a positive indicator for the Congolese economy and suggests encouraging prospects for the future.
In another register, the DRC maintains close relations with the International Monetary Fund (IMF), and a mission of the latter has just ended in Kinshasa. This mission aimed to conduct the 5th review of the three-year program of the Extended Credit Facility, which aims to support the country’s balance of payments. If the review is conclusive, this could lead to a new disbursement of $200 million to the DRC. These funds will be essential to support the Congolese economy and promote its growth.
In conclusion, the international market for agricultural and forestry products is constantly evolving and price fluctuations are a reality that economic players must face. However, the price stability observed this week in the DRC is a positive indicator. In addition, the confidence of business leaders and the solid relations with the IMF are encouraging elements for the Congolese economy. These developments should be closely monitored to understand the opportunities they can offer the country’s economic players.