China and India help sustain West Africa trade

  • October 15, 2008
  • • Source: ITTO's Tropical Timber Market Report
  • • Views: 7589
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While China and India were buying at reasonable levels, log trade elsewhere was very slow and demand was low. Prices were reported as stable, although beyond the restricted number of species for China and India, there were too few buyers in the market on which to base normal market prices. Some business in non-premium species was being conducted with Vietnam. Prices for these species were likely to have been keenly negotiated and qualities would have been lower than usual.

The onset of many countries’ global economic problems has yet to fully impact all sectors of the log and lumber industries. However, lower growth forecasts for economies in developed countries is certain to slow manufacturing and sales of furniture, which will impact demand for tropical timber. There has already been a downturn in sales of board products in Europe, due to problems in the building industries and lower demand from furniture manufacturers and exporters.

As with logs, it is likely that sawn lumber prices appear stable only because of low trading volumes, rather than being led by demand in the market. Buying was very slow over the previous fortnight. Sapele prices were still variable and subject to offers. Buying for iroko lumber was weaker due to lower demand.

Central/West Africa
West Africa logs, FOB € per m³
Asian market
LM
B
BC/C
Acajou/ Khaya/N'Gollon
221 
191 
137
Ayous/Obéché/Wawa
206 
206 
168 
Azobe & Ekki
168
168
122
Belli
168
168 
-
Bibolo/Dibétou
168 
168 
114
Bubinga
533
457
381
Iroko
289 
274 
259
Okoume (60% CI, 40% CE, 20% CS)
132
-
-
Moabi
259
259
206
Movingui
191
191
137
Niove
129
129
-
Okan
162
162
135
Padouk
259 
259 
229 
Sapele
251
251
191
Sipo/Utile
305
305
228
Tali
152
152
114 


West Africa sawnwood, FOB
€ per m³
Ayous FAS GMS
335 
Fixed sizes 396
Okoumé FAS GMS
300
Sel. & Bet. GMS Italy
250
Sel. & Bet. fixed sizes
-
Sipo FAS GMS
585
FAS fixed sizes
-
FAS scantlings
585
Padouk FAS GMS
585 
FAS scantlings
585
Strips
425
Sapele FAS Spanish sizes
520
FAS scantlings
520
Iroko FAS GMS
458
Scantlings
519
Strips
304
Khaya FAS GMS
396
FAS fixed
427
Maobi FAS GMS
580
Scantlings
580
Movingui FAS GMS
420