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.


 

 

1-15 May 2010

Top story

Log ban comes into effect

The log export ban in Gabon takes effect as planned from midnight on 15th May. This puts an end to speculation about when the ban would come into force. Producers and traders in the region will now have to adapt to the new market conditions.
In the meantime, most of the very active log trading in the West and Central African region is centred in Cameroon and there has been frenetic bidding for all kinds of logs. 
Sellers are insisting that depending on the total value of each transaction, a large proportion of the purchase price must be paid in advance and in cash. The balance is required immediately against the bills of lading. These rather ad-hoc transaction methods make the determination of the current price levels very difficult.
(see details on page 2)


Also in this issue

  • Malaysia faces challenges in expanding trade 
  • Indonesian Rupiah sustains strength 
  • LUS promoted at furniture fair in Myanmar 
  • Prices firm at Gujarat hardwood auctions 
  • Brazil’s economic package to boost exports 
  • Technical support for Lorento concessionaires 
  • Log market imbalance in Japan 
  • China’s first quarter imports soar 
  • First EU step to ban illegal timber trade 
  • Rebates for energy efficiency renovation in USA 
     

Data snapshot

Daily exchanges rates of the main currencies against the Indonesian Rupiah (Index 4th Jan 2010=100)

snapshot_20100501.gif

The downward trend in exchange rates of the main currencies against Indonesian Rupiah has the effect of making Indonesian exports more expensive.
In particular, the Euro is weakening due to the effect of the Greek crisis and the UK pound is also being dragged down. 

 

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