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.


 

 

16-31 May 2007

Top story

Temporary glut in West African log supply

Due to China's waning demand for logs over the past two weeks, there is an overabundance of log supplies in log storage parks. As a result, log producers are not able to transport logs to the already full port storage areas unless the logs are specifically marked for loading on designated ships. This is particularly difficult given that shipping availability has been heavily curtailed by buyers. In an attempt to reverse trends in the log supply, some producers have started lowering prices to tempt Chinese buyers; however, Chinese buyers seem unlikely to purchase logs until the glut of supply clears.


Also in this issue

  • Ghana's forest resources diminishing
  • Malaysian timber product prices reach all time highs
  • Former Malaysian minister's advice paying off
  • Indonesian traders eye appreciating rupiah
  • Indonesia signs extradition treaty with Singapore
  • Prices rise for Myanmar's teak logs
  • Domestic wood product prices stabilize in Brazil
  • Lower Brazilian interest rates expected in June
  • Deforestation in Mato Grosso decreases by 89%
  • INRENA calls for significant caoba reforestation
  • US-Peru FTA may include logging provisions
  • Mexico organizes workshop on mahogany
  • Guyana to ramp up detection of illegal logging
  • Supply of Japanese plywood grows
  • Log production recovers in South East Asia
  • China initiates pilot projects for exporting sawnwood
  • Plywood output in Europe climbs 2.2% in 2006
  • Brazil retains largest share of US lumber imports

Data snapshot

Tropical log FOB price trends

snapshot20070502.JPG

While prices for most tropical logs were stable to rising, UK prices for West African species such as sapele and iroko have fallen. This is a consequence of the temporary oversupply of logs (see top story) and a setback to an otherwise strong market situation for West African logs.

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