Plywood exports recover in third quarter despite gloomy projections

Nov 26, 2008 News

Export volumes of plywood in the third quarter of 2008 have, according to international reports, recovered from the first two quarters, showing progressively greater export volumes.
Plywood accounted for as much as 41 per cent of all wood exported from Guyana.
As of the end of September 2008, plywood exports by volume were 9 per cent greater than those of the previous quarter, and 14 per cent over the first quarter’s total.
The leading market for plywood from Guyana, however, continues to be the United States, consuming 54.4 per cent of all plywood exported from January to September 2008.
Consumption of Guyana’s plywood in this market increased in the third quarter by 31.4 per cent and 16.4 per cent over its first and second quarter consumptions, respectively.
Other improvement exports for Guyana were recorded for logs, with third quarter volumes accounting for 34 per cent of all log exports, ending September 2008.
This was attributable to the much larger increase in demand by India for Guyana’s logs.
Log exports to India in the third quarter accounted for 53.8 per cent of total export volume for the three quarters.
Total export of logs is, however, still lower than 2007 by both value and volume.
According to the mid-year financial report, the forestry sector was targeted to record a modest three per cent growth, recovering from the 11.1 percent contraction in output for the previous year.
Instead, the first half of 2008 saw persistence in the downward spiral.
There was a 23 percent reduction in output relative to the comparative period last year.
According to the Finance Minister’s Report, this arises from increased enforcement activities by the Guyana Forestry Commission, which resulted in a number of operators being found delinquent in their required submissions to the Commission, and an associated decline in output for the period.
It was noted that the majority of operators have since complied with the regulatory requirements by the end of the half year, but several were yet to return to active operations.
At that time, it was noted that, even with some expected recovery in production during the peak period from August to November, it was not anticipated that it would compensate for the production shortfall, and the sector was accordingly projected to decline by 14 percent relative to the anticipated three per cent growth. This, however, was not the case.

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Plywood exports recover in third quarter despite gloomy projections

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