By Tata Mbunwe
The Ministry of Trade has countered a proposed plan by beverage producers in Cameroon to increase the prices of beer by May 10.
According to a release dated April 30, 2024, Minister Luc Magloire Mbarga Atangana suggests that the decision taken by the national union of beverage producers, SYNEDEBOC, was not approved by the government.
Beverage companies have been eager to raise beer prices since January, following the government’s decision to increase fuel prices and interurban transport fares.
However, the government had issued a warning against any price hikes in a release dated December 30, 2023.
Minister Mbarga Atangana’s April 30 release reiterated the government’s stance, stating that any increase in beer prices must be subject to government approval.
Companies failing to adhere to this regulation risk facing sanctions, which could include a fine of 10 percent of their annual turnover or even a suspension of operations.
The release emphasized that the government has historically favored dialogue with beer producers over confrontation as it is the case now.
“… beer and hygienic drinks appear indeed on the list of products and services subject to prior and obligatory approval of prices and tariffs by the Administration…,” said Mbarga Atangana in the release.
As a step towards resolving the issue, the Ministry of Trade has invited members of SYNEDEBOC for a working session on May 16 in Yaoundé.
The session aims to discuss the current issue at hand and find a mutually agreeable solution.
This development comes amid concerns from consumers about the potential impact of price hikes on their budgets, particularly in light of the recent increases in fuel prices, transport fares and unabating inflation in foodstuffs prices.
©Mimi Mefo Info
