Mixed results have characterised the global timber market in the first quarter of 2008 with Brazil’s exports declining, Argentina’s exports increasing, Japan’s imports of southsea log falling, China’s plywood exports experiencing a dip, and prices of Indonesian, Malaysian Guyana timber shooting up, according to the Tropical Timber Market Report (TTMR). The International Tropical Timber Organisation (ITTO) in its latest market report noted that Ghana’s non-traditional exports revenue for 2007 crossed the target of $1 billion mark for the first time, reaching an all time high record of $ 1.165 billion, principally from agriculture, processed and semi-processed products and handicrafts.
Brazil’s first quarter exports from alta floresta and sinop declined by 2.4% and 20% respectively, but they continued to be the major wood cluster regions in the country. Brazil’s furniture exports to the US tumbled 27% in value in the first quarter of 2008, but Argentina’s share climbed by 38% in value over the same period. Guyana’s exports of piles began to recover after falling earlier in the year. Prices for Guyana’s dressed lumber were also at record highs, with purpleheart prices exceeding $1,000 per cubic metre over the first two weeks of April 2008.
Japan’s imports of southsea logs fell by 25.6% in 2007 from 2006 levels, largely due to the impact of its revised Building Standards Act. As a result the shortage of southsea logs in Japan prompted price hikes for hardwood, plywood and plywood logs. Another contributing factor for plywood price rise was that China’s first quarter 2008 plywood exports through Shandong port dropped nearly 20%.
Prices jumped for Indonesian and Malaysian timber due to global commodity price rise, higher fuel costs and bad weather ? prices of Sarawak log ranging between $ 239 to $ 320 per cubic metre on FOB basis and that of Malaysian sawnwood prices ranging between $ 426 to $ 447 per cubic metre and that of Seraya Scantlings between $ 709 to $ 747 per cubic metre.