Guyana records sizeable growth in shingle exports, earnings

Dec 18, 2008 News

An analysis of the volume and value of shingles exported from Guyana was 16 per cent higher compared to the same period last year. However, the value was 57 percent more.
This is according to the ITTO Tropical Timber Market (TTM) Report, which is published every two weeks.
The report states that this robust growth by value is mainly attributable to the higher price paid for shingles in the Latin American/Caribbean markets and larger demand for Guyana’s shingles.
Volumes of exports to these regions have increased by 5.6 percent and 40 percent by value over the first 11 months of 2007.
The average price received for shingles in the Latin American/Caribbean market was 33 percent higher than in other markets.
Other main markets for Guyana’s shingles were in the African region, which has also shown rises in the volume and value over 2007 levels.
Prices of shingles to the region on average increased 10 percent over prices in 2007.
Despite lower volumes of shingle exports to the North American market this year, the value of these products was 12 percent greater than last year and average prices jumped 69 percent.
In another added value product class, exports of Kabukalli doors showed marked improvements for the period January to November 2008 by both volume and value when compared to the same period of 2007.
Increases of 30 percent by volume and 38 percent by value were recorded over the review period.
This was closely followed by improvements in exports of locust doors, with gains of 65 percent by volume.
The highest volume of shingles exports has been seen over the past fortnight, when compared to all other periods this year.
As projected in the last fortnight, log exports continued to rise by both volume and value.
Prices for logs recorded average increases of 35 percent.
Sawn wood exports were also higher over the last fortnight, 85 percent by volume and 80 percent by value. The smaller improvement in value can be attributed to the larger export volumes of less popular and commercial timber species.
The ITTO report stated that at the recently hosted forum on the US Lacey Act on December 11, last, Guyana, through the GFC, identified trade relations with international partners as a priority area for 2009, with emphasis being given to the requirements of key markets, including the US and EU markets.
At the forum, Guyana also discussed a legal verification system it has developed. The system is expected to be implemented in 2009.

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Guyana records sizeable growth in shingle exports, earnings

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