world news - 04.06.2003
West African Log Market in May
Once again no price movements have been reported. This is now 3 months since
any market change was seen. Monsoon rains are finished in Gabon but are now
starting in Cameroon and in both countries sawmills continue to be busy and log
supplies are reported as adequate.
Log buyers are resistant to any uplift in price. Italian buyers are in the
market for Okume, substituting for Samba due to unrest in Cote d'Ivoire but will
not pay above the established rate of Euro 255 per Cu.m FOB for Standard and
Better.
Exports from Central Africa Republic and Congo (Brazzaville) are down and the
civil unrest in Liberia has almost closed off the log trade. Analysts are
reporting that buyers have turned to Gabon and Cameroon for supplies of good
quality Sapele and Moabi.
Log trading to Europe is reported as very slow as importers in Germany, France
and Spain report sufficient stocks of major species to carry through the summer
months at the current very low level of demand.
See also:
- — Danish Furniture Trade: The Danish trade balance in furniture in 2002 was positive with exports exceeding imports
- — UPM-Kymmene has established a company for wood procurement in the Baltic countries
- — The Chinese government has abolished a special tax rate on Russian market pulp and newsprint imports which are transported via land.
- — Russia is increasing its exports of wood and paper products. Currency earnings from exports of wood and paper products in January-February came to $763.1 million, which is 11% more than the same period of last year.
- — IFC and Finland to Continue Cooperation in Russia
