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 2008

Top story

Ghana’s market performance improves in second quarter

Prices of Ghana’s timber and wood products, particularly teak logs and poles to India, improved by an average of USD30/m³ during the second quarter of 2008. The price rise was USD10/m³ more than the average of USD20/m³ in the first quarter. Harvesting from private teak plantations accounted for about 70% of the teak contracts approved during the second quarter. While buyers adjusted prices of lumber upward to compensate for the fall in the value of the US dollar vis-à-vis the euro, it was difficult to achieve the minimum Guiding Selling Prices (GSP) for plywood and rotary veneer, which form the bulk of exports to the American markets. Prices of ceiba rotary veneer were down an average of USD27/m³ when compared to the GSP of USD382/m³.


EU tropical hardwood imports cool during 2008

Newly released trade data reinforces anecdotal reports of a significant slowdown in Europe’s hardwood imports from tropical countries this year. However, the news is not all bad. There has been growth in imports of some commodities into a few countries. Plywood imports from tropical countries increased significantly in the second quarter of 2008. In addition, EU imports of hardwood flooring have been rising this year.


Also in this issue

  • Outlook for West African timber trade weak
  • TIDD contract approval rises 25%
  • Malaysia set to sign VPA with EU
  • Furniture makers expect strong sales despite economic slowdown
  • Malaysia’s prices drop as industrial trends weaken
  • Indonesian markets cautious despite strong timber exports
  • Brazil steps up efforts to curb deforestation
  • Brazil’s exports drop 25.8% in August 2008
  • Peru’s wood exports grow 10%
  • Mexico aims to increase production to about 10 million m³
  • Guyana’s sawnwood exports continue to climb 9
  • Japan’s imports of major forest products fall in first half 2008
  • Emergence of plantations expands China’s raw material supply

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