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Guyana’s 2008 forest products market trends show mixed results

Jan 21, 2009 News

In 2008, domestic prices for Guyana’s forest products were mixed, compared with 2007 levels, the Tropical Timber Market Report stated.
The report, which is published twice yearly, is aimed at improving transparency in the international tropical timber market.
The greatest price increase, the report stated, was recorded for split-wood, rising 61 percent over 2007 prices. This was closely followed by similar hikes in plywood, which moved on average from US$66 in 2007, to US$538 in 2008.
Prices for fuel wood rose 29 percent on average. Price declines were greatest for round wood.
The average price level for exported products showed a more positive trend per cubic metre for logs, lumber and plywood.
Though there were small improvements recorded for some products, others, such as logs and undressed lumber, showed significant improvements in prices, the report stated.
Log prices increased by approximately 25 percent over the 12-month period, moving from US$123 per m³ in January 2008, to US$154 per m³ in December 2008.
Other trends over the twelve-month period included: undressed lumber prices increasing 26 percent, (from US$422 to US$531), dressed lumber and plywood prices each rising approximately nine percent (from US$581 to US$631 and from US$384 to US$419 respectively); and round wood jumping 70 percent from US$206 to US$352.
By region, the Asia/Pacific region was the most important export market for Guyana’s wood products by value, although revenue from this region in 2008 was 11 percent lower than in 2007.
The Latin American/ /Caribbean region continued to import a significant share of Guyana’s products, with the value of exports to this region increasing by three percent over 2007 levels.
The value of exports to the North American market fell by five percent, while revenue from the European market went up 27 percent.
However, the smaller contributors to Guyana’s export revenues increased their market share in 2008.
Countries in South America and Africa contributed a larger amount to revenues in 2008 than in 2007, with revenue from these regions increasing 26 percent and 83 percent respectively.
Log export volumes in 2008 were 41 percent less than the accumulated total for 2007, the largest fall for any forest product.
Sawn-wood export volumes also declined by more than 8.2 percent over 2007 figures, although this was less significant than the decrease in log exports, because of the larger volume of dressed lumber exported, the report stated.
Plywood volumes were 35 percent lower than 2007 levels.
The total export value earned for Guyana’s forest products was supported by higher average prices per cubic metre throughout the year.
Values for plywood and logs fell by 26 percent and 25 percent, respectively.
Other products that recorded gains in the same period were dressed lumber (62 percent) and sawn-wood (19 percent).

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