News from the markets


ITTO has released its report on tropical timber markets for the second half of February.

Credit : IMAGEO

Among the main topics, the report discusses information about the increase of sawn tropical hardwoods to China in 2022 (a total of 6.35 million m³ valued at US$1.91 billion, representing an annual increase of 6% in volume and 2% in value, and accounting for about 24% of all sawnwood imports to China, an increase of 3% over 2021), with Thailand being China's largest supplier of tropical sawnwood (62% market share), followed by the Philippines (10% market share) and Gabon (9.5% market share)-three countries that supplied 82% of China's tropical sawnwood needs in 2022.

Topics also included the many challenges facing operators in Cameroon, including tax increases, concession renegotiations, and preparation for the issuance of CITES certificates (the ASP "Cameroon Green Pact" project, implemented by ATIBT, JMN Consultant, and CJPN International, was mentioned); the downsizing of some manufacturing companies in Ghana due to the high cost of doing business, a phenomenon attributed to taxes, access to credit, and the high cost of utilities, among other things, which have put a lot of pressure on these companies. Managing Director of the Association of Ghana Industries (AGI) Seth Twum Akwaboah has called on the government to take proactive measures and institute favorable policies to save local industries. The report also shows robust imports of tropical sawn timber into the UK in 2022 with 108,900 m³ which is 34% higher than the same period in 2021 and the highest level since 2016.

Also in the headlines are the following topics: African mahogany grown in Brazil khaya Ivorensis - coming soon to market. Grown in plantations in Brazil, it represents a strong investment potential for Brazilian producers (it can be harvested after 20 years) and is an alternative to Brazilian mahogany; record sales in the Indian residential housing sector (+68% year on year in 2022); a summary of Japanese imports for 2022; forecasts from an Allied Market Research report for the North American furniture market to reach US$400 billion by 2030.

Download the ITTO market report for February 16-28

you will also like