Ghana: First quarter wood product exports - volume up, earnings down

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The volume of Ghana’s timber exports in the first quarter of 2022 was 74,853 cu.m, which represented close to a 10% volume increase when compared to the same quarter in 2021 (68,617cu.m) according to available data from the Timber Industry Development Division (TIDD) of the Forestry Commission (FC).

However, export earnings for the first quarter plummeted by 18% from Eur36.46 million in Q1 2021 to Eur30.04 million in Q1 2022.

The volume of air-dried sawnwood exports were largely unchanged at 33,040 cu.m in the first quarter 2022 compared to 33,394 cu.m in 2021. However, air-dried sawnwood was the leading export product during the quarter under review contributing 44% to the total volume of wood product exports.

There were significant increases in the volume of plywood exports (to the regional market) and air-dried boules which registered a growth of 195% and 437% year-on-year respectively. Plywood export volumes increased from 4,632 cu.m in Q1 2021 to 13,680 cu.m in Q2 2022 accounting 18% of the total export volume for the period and these were mainly to the West Africa sub-region.

For the period under review five out of the 11 products exported namely air and kiln-dried sawnwood, billets, moulding and sliced veneer accounted for 56,297 cu.m and recorded shortfalls in their 2022 revenue against those of 2021.

According to the TIDD data the average unit price for most products was lower in Q1 2022 compared to Q1 2021. Ceiba recorded the steepest decline of -46%, with sapele the lowest at -8%. The average unit price for wawa and niangon, however, recorded +9% and +17% respectively.

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