16 July 2014: The International Tropical Timber Organization (ITTO) launched the 1-15 July issue of the Tropical Timber Market (TTM) Report, which discusses the growth of China’s forest machinery industry to an annual value of US$2 billion in 2013. The report notes that a majority of timber processing machinery is exported to Europe and North America.

Elsewhere in Asia, the report mentions expected growth in real estate and housing in both India and Japan due to a tax deduction on interest paid on home loans in India and a report from the Bank of Japan indicating an overall recovery in the economy. Also in Japan, the TTM has started publishing excerpts of articles from the Japan Lumber Reports (JLR) Trade Journal.

Other market trends highlighted in the report include a new limit on the thickness and width of sawnwood permitted for export from Gabon, a continuing decline in the import of wood furniture into the EU, and the harmonization of window and door standards in Canada and the US.

In addition to the headline stories, the report contains tropical timber market reports from Brazil, China, Ghana, Guyana, India, Indonesia, Japan, Malaysia, Myanmar and Peru. The report further recounts regional tropical timber market statistics from Central and West Africa, Europe and North America.

The TTM published through the ITTO Market Information Service (MIS) requires free registration to access the reports. [Publication: Tropical Timber Market Report – Issue 18 Number 13]