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 September 2014

Top story

High stocks of imported timber drive down timber prices in China

Zhu Guangqian, a consultant for the China National Forest Product Industry Association, has said that current stocks of imported timber exceed domestic demand and this is driving down wholesale prices in the domestic market. Analysts estimate current stocks are around 5 million cubic metres, up 52% from levels at the beginning of this year. Most of the stock is of imported timber purchased in the first quarter of this year when prices were firm. See page 16
 
Indonesia aims to implement this new regulation in 2015.

Also in this issue

  • Ghana’s timber exports up 9% 
  • Malaysia’s certification scheme endorsed for further 5 years 
  • Brazilian furniture exporters seek to expand US market share 
  • Personal consumption key to growth in Japan 
  • China’s bamboo industry output to top US$48 billion by 2020 
  • All-out effort to prop up China’s housing market 
  • Rapid improvement in UK construction 
  • Energy efficiency helps drive EU joinery demand 
  • Promoting US-made building materials in public buildings

Data snapshot

Personal consumption key to growth in Japan
 



Data source:Statistics Office, Japan

 

Japan's annualised growth in the first quarter of this year was almost 6% as companies and consumers brought forward spending to beat the 60% rise in the consumption tax (from 5% to 8%) one 1 April.  As expected, personal spending fell back sharply in the second quarter and the Bank of Japan has warned that it is taking longer than forecast for spending to recover.
 
Personal spending accounts fro over 60% of GDP growth in Japan and the rapid fall in household spending coupled with the yen's depreciation has slowed recovery from the ‘tax shock’.
 
The average monthly household expenditure for July was yen 280,293 down 5.9% in real terms from the previous year. 

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