Market Information Service

Towards greater transparency in the tropical timber markets

The ITTO Tropical Timber Market (TTM) Report, an output of the ITTO Market Information Service (MIS), is published in English every two weeks with the aim of improving transparency in the international tropical timber market. The TTM provides market trends and trade news from around the world, as well as indicative prices for over 400 tropical timber and added-value products.


 

 

16-30 November 2009

Top story

 

Trade startled by Gabon announcement 

 

Dominating the news in the West and Central African timber trade has been the announcement that Gabon will ban the export of round logs. First reports said this would take effect from January 2010. A statement to this effect was reportedly issued after a cabinet meeting on the 5th November. This announcement was one of several by the government team led by the newly-elected President Ali Ben Bongo, who became Gabon's president last month. 


According to earlier goals, the Government planned to increase the domestic wood processing rate to 75% in 2012 and only allow 25% of the log harvest to be exported. 


As there are no details of any phasing out of log exports the industry is uncertain what to do about the existing log stocks at the port and in transit. It is also uncertain of what to do in respect of contracts already signed and for shipping and time charter arrangements. The latest news is that the actual date for the implementation of the ban has not yet been decided.

 



Also in this issue

  • Gabon log ban
  • Furniture selling well
  • Teak, a sunset industry?
  • Indian consumption grows
  • Dubai Furniture Fair
  • Peru, exports down
  • Bearish plywood market
  • EU trade optimistic
  • Hardwood flooring market
  • A changing hardwood industry

 


Data snapshot

Peru Timber Exports
Peru’s exporters of processed wood products benefited from strong global demand and exports grew from US$2 mil. in 2000 to almost US$35 mil. in 2006. This upward growth in exports continued up to 2008. However, the current economic slowdown has hit exporters and business is down. For the period January to September 2009 exports are down around 20% compared to the same period in 2008. Manufacturers are bracing themselves for a continuation of difficult trading conditions into 2010.







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