Central/West Africa: Weakening demand having a downward pressure on prices

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ITTO/Fordaq
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Recent observations by operators in Central/West Africa signal a slowdown in demand in several markets. In Iraq, for example, the pace of new orders has fallen and in China demand is reported as slow. The weakening demand is beginning to have a downward pressure on prices for some species.

Reports suggest prices for Okoume have been showing signs of easing in the Middle East and Chinese markets.

The Chinese market has not fully recovered since the Chinese New Year and it is anticipated to remain slow until the year's end.

European markets are reported as slow but stable as there are ample stocks in Portugal, France, Belgium, Germany and the Netherlands to see manufacturers through the summer months.

Belgium reportedly still boasts a healthy stock of padouk and doussie imported from Cameroon, Gabon and Congo in advance of the CITES deadline.

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