The International Tropical Timber Organization (ITTO) released the 1-15 September issue of the Tropical Timber Market (TTM) Report, highlighting the emergence of Brazil as a leading consumer market with a projected household market of US$ 1.6 trillion by 2020.
15 September 2013: The International Tropical Timber Organization (ITTO) released the 1-15 September issue of the Tropical Timber Market (TTM) Report, highlighting the emergence of Brazil as a leading consumer market with a projected household market of US$ 1.6 trillion by 2020.
In Asia, the report notes that a reduction of fuel subsidies in Malaysia will increase timber production costs, while the drastic drop in the rupee is reducing timber trade volume in Myanmar. Both countries are expected to see reductions in timber exports as a result. Conversely, the report notes success with regard to Chinese exports to the Association of Southeast Asian Nations (ASEAN), with an increase of 30%. Also in Asia, the report notes a disconnect between the positive economic indicators from the Bank of Japan and continued decline in consumer confidence.
In other parts of the world, the report emphasizes that spending on home renovations in the US is increasing, while in Ghana a stakeholder meeting was held to calm fears from the forest industry that the Voluntary Partnership Agreement (VPA) will result in job losses. Finally, the report notes that changes in the Construction Products Regulation (CPR) concerning plywood combined with the EU Timber Regulation (EUTR) is pushing increased imports from Africa over to other regions.
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 Report is published through the ITTO Market Information Service (MIS) with the aim of improving transparency in the international tropical timber market. [Publication: Tropical Timber Market Report – Issue 17 Number 17]