Ghana: TIDD reports sharp improvement in Q1 plywood prices
25/06/2008 - 12:06
According to the Timber Industry Development Board (TIDD) contract report, there has been a sharp improvement in prices of plywood during the first quarter of 2008. Buyers of plywood in West African countries, especially Nigeria, have been paying between USD20/m³ and USD30/m³ more than the TIDD minimum Guiding Selling Prices (GSP). The price paid depends on the thickness of plywood being demanded. This development has helped push up prices of plywood and rotary veneer to US markets, which were slightly below the minimum GSP. Though prices of plywood and rotary veneer to the US are still low when compared to those in ECOWAS and European markets, they have improved by an average of USD15/m³ and USD25/m³ respectively above the minimum GSP. The only exception to this trend is celtis rotary veneer, which is still at the GSP of USD384/m³.
West African countries have been the major consuming markets of Ghana’s plywood exports, with Nigeria topping the list. Currently, about 70% of Ghana’s plywood exports is absorbed by West African markets. Export prices of niangon boules, which were down during the third and fourth quarters of 2007, have shown signs of improvement during the quarter under review. Contracts submitted registered higher prices of between EUR510/m³ and EUR540/m³, up from the current GSP of EUR500/m³.
Prices of air-dried wawa, which were stable during the last quarter of 2007 and hovering around the GSP of EUR255/m³, rose by an average of EUR10/m³ during the quarter under review. Within the same period, prices of traditional species improved as they did during the previous quarter. Prices of khaya ivorensis, sapele, makore and utile particularly improved on average EUR15/m³. Prices of odum did not improve as during the previous quarter. Exporters therefore found it difficult to achieve the minimum GSP of EUR715/m³ for KD Lumber. For the first time, about 45.5m³ of semi-powdered mahogany bark was exported to China at a price of USD90/m³. The product was contracted by Kugyampy Limited of Accra and Qingdao Songlin Wire Industry Company Limited of China.
Of the few contracts submitted for approval during the last month of the quarter under review, teak log prices improved on average USD20/m³. It is anticipated that prices of timber to India would improve during the second quarter. Generally prices for most of the species in lumber form were stable during the quarter under review.
Ghana Log Prices
Ghana logs,
domestic
US$
per m³
Up
to 80 cm
80cm+
Wawa
90-105
110-140
Odum Grade A
160-170
175-185
Ceiba
80-95
100-120
Chenchen
60-88
90-112
Khaya/Mahogany (Veneer Qual.)
70-90
95-120
Sapele Gradea A
130-150
155-175
Makore (Veneer Qual.)
Grade A
125-135
140-166
Ghana Sawnwood
Prices
Ghana
Sawnwood, FOB
US$
per m³
FAS 25-100mm x 150mm up x 2.4m up
Air-dried
Kiln-dried
Afrormosia
855
-
Asanfina
480
560
Ceiba
205
260
Dahoma
330
390⇑
Edinam (mixed redwood)
400
470
Emeri
425
490
African mahogany (Ivorensis)
580
670
Makore
510
600
Niangon
550
-
Odum
670
750
Sapele
540
600
Wawa 1C & Select
255
285⇑
Ghana
sawnwood, domestic
US$ per m³
Wawa
25x300x4.2m
245
Emeri
25x300x4.2m
350
Ceiba
25x300x4.2m
204
Dahoma
50x150x4.2m
306
Redwood
50x75x4.2m
270
Ofram
25x225x4.2m
330
Ghana Veneer Prices
Rotary
Veneer, FOB
US$
per m³
CORE
(1-1.9mm)
FACE
(<2mm)
Bombax
325
350
Kyere, Ofram, Ogea & Otie
325
360
Chenchen
315
360
Ceiba
360
315
Mahogany
425
460
The
above prices are for full sized panels, smaller sizes minus 15%.
Thickness below 1mm would attract a 5% premium.
Rotary
Veneer, FOB Core Grade 2mm & up
US$
per m³
Ceiba
245
Chenchen,
Ogea & Essa
295
Ofram
305
Slices
Veneer, FOB
US$
per m²
Face
Backing
Afrormosia
1.80
1.00
Asanfina
2.00
0.92
Avodire
1.12
0.80
Chenchen
0.72
0.50
Mahogany
1.50
0.79
Makore
1.40
0.85
Odum
1.54
1.10
Ghana Plywood Prices
Plywood,
FOB
US$ per m³
B/BB, Thickness
Redwoods
Light
Woods
WBP
MR
WBP
MR
4mm
560
465
500
375
6mm
380
315
335
285
9mm
388
305
290
280
12mm
340
285
300
280
15mm
350
290
300
280
Grade
AB/BB would attract a premium of 5%. BB/BB would be 5% less, C/CC 10%
less and CC/CC 15% less.
