The volume and value of Ghana’s timber exports has been falling in each of the past five months. The country secured Euro 62.65 million from the export of 116,952 cubic metres of wood products in the first 5 months of this year representing a 27% drop in value and a 31% drop in volumes compared to the same period in 2016, ITTO reported.
The average unit price of wood products in the period January to May 2017 dropped to Euro 536/ cubic metre from Euro 564/ cubic metre in the same period in 2016, an almost 5% decline.
Secondary wood products (sawnwood, boules, veneers and plywood) accounted for 82% of exports followed by primary product exports (poles and billets) 7% with the balance being tertiary wood products (mouldings, flooring, dowels and furniture parts).
Asian markets accounted for close to 70% of all wood product exports with China and India being the leading importers.
EU imports of wood products from Ghana have been falling over the past months. Analysts suggest the fall in exports is most likely linked to the growing problem mills have in securing adequate log supplies.
