1 July 2014: The International Tropical Timber Organization (ITTO) launched the 16-30 June issue of the Tropical Timber Market (TTM) Report, which highlights that, according to a study by the Food and Agriculture Organization of the UN (FAO), a third of all industrial roundwood is produced in plantations even though plantations only account for 7% of the world’s forest areas.

The TTM also announces that the South Korean Trade Commission has extended anti-dumping duties placed on Malaysian plywood. The extension of the three-year duties has been set at rates between 3% and 38%. Elsewhere in Asia, analysts report that the log market in Myanmar is slow, in part because bidding is now only open to domestic buyers, while in China, redwood has been added to the East China Forest Exchange.

The report also features an article on a shift in the teak market in India towards plantation teak, which now accounts for four times more volume than teak from natural forests. In Europe, Brazilian tropical ipe has been withdrawn from Jewson stores in England due to concerns over the legality of supply, while the production of furniture in the EU has shown a slight upturn over previous quarters.

In addition to the headline stories, the TTM 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 12]