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 August 2017

Top story

Foreign furniture makers in Indonesia moving to Vietnam

Several foreign owned furniture companies have relocated from Indonesia to Vietnam to take advantage of the more attractive business environment. The Indonesian Furniture and Handicraft Industry Association say production costs are rising in Indonesia so it is only natural that companies would seek the most favourable locations. Some 20,000 jobs are at risk if foreign furniture manufacturers decide to leave Indonesia. Vietnam's furniture exports were just over US$7 billion last year, more than four times that of Indonesia's.


Also in this issue

  • Gabon mulls one year ban on bubinga exports
  • Sentiment in South African construction industry at 2008/9 crisis level
  • Myanma Timber Enterprise clarifies private sector involvement in logging
  • Wood demand projection for 2017 from Japan’s Forestry Agency
  • More panel mill closures in China - Linyi City mills told to close
  • EU debates changing context for VPAs
  • Indonesia calls for strong focus on FLEGT market promotion
  • Brussels conference - Zero-deforestation policies demand innovations in certification
  • US bill could exacerbate labour shortage say National Association of Home Builders

             


Data snapshot




 

Strengthening currencies benefit importers – but not all are winners

The Indian rupee is at a two year high and is likely to strengthen further. So far this year the rupee has strengthened against the US dollar by 6.6%. Indian importers are benefitting from the stronger rupee and teak importers are preparing to open negotiations on prices with shippers. Many other Asian currencies have firmed against the dollar this year. The Thai baht tops the league table, strengthening almost 8% flowed by the South Korean won and Taiwan P.o.C dollar both up up by around 7%. The only losers so far this year in Asia were the Hong Kong dollar and the Philippine peso. One of the worst performing currencies this year has been the Ghana cedi.
 

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