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 October 2017

Top story


Reform of Australia’s illegal logging regulation

The Australian Government is reforming its illegal logging laws to streamline their ‘due diligence’ requirements and remove un-necessary compliance costs to Australian importers and processors.

The Illegal Logging Prohibition Regulation 2012 will be amended to establish a new ‘deemed to comply’ arrangement for products certified or licensed under the FSC and PEFC schemes.

Once implemented, parties dealing with FSC or PEFC certified products will only need to check that certification claims are legitimate and current to satisfy the due diligence requirements. The reforms are expected to come into force in January 2018.

See: http://www.agriculture.gov.au/forestry/policies/illegal-logging/consultation-engagement


Also in this issue

  • A long stretch with few FOB price movements for African timbers, why?
  • On/off news on Kevazingo exports
  • Chinese rattan furniture makers eye move to Indonesia
  • Calls for comprehensive assessment of harvesting in Myanmar
  • Price of sawn rubberwood surges in Hainan
  • ATIBT launches tropical timber branding initiative
  • STTC calls for greater focus on marketing and promotion
  • Lumber Liquidators settles flooring formaldehyde class actions

             

 

Data snapshot
 

China’s wooden furniture imports more than double



 

Increases in purchasing power in China has driven the market for imported wooden furniture to grow sharply. Growth in imports of wooden kitchen furniture has been remarkable. From a low of US$60 million in 2009 imports grew to US$140 million in 2016.

Assuming that the approximate 43 million households in China replace their home furniture every 10 years spending just RMB1,000 per household the replacement market alone will be worth around US$7 billion. .

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