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Business News of Thursday, 10 November 2005

Source: GNA

BUDGET: Ghana records decrease in timber exports

Takoradi Nov.10, GNA - Ghana exported 122,968 cubic metres of wood products worth 48,763,531 Euros from July to September this year. In 2004, 126,950 cubic metres of wood products worth 46,457,724 Euros were exported during the same period.

This was contained in a press release issued by the Timber Industry Development Division (TIDD) and signed by Mr Robert Benjamin Wilson, Assistant Public Relations Manager.

It said the third quarter of 2005 registered a decrease of 3.14 per cent in volume but an increase of 3.85 per cent in value in comparison to the third quarter of last year.

The release said in cumulative terms, Ghana exported 352,167 cubic metres of wood products worth 137,984,509 Euros from January to September this year as compared to 341,863 cubic metres valued at 127,877,740 Euros during the same period last year.

The release said, "The January to September 2005 export recorded 3.01 per cent volume and 7.90 per cent value increases over the corresponding figures for 2004."

The release said the United States, India, Italy, Germany, France, the United Kingdom, Belgium and Spain were the major importers of wood products from Ghana.

It said the United States maintained its consistency, during the period under review, as an emerging lucrative destination for Ghana's wood products.

The release said the United States was the single largest market during January to September 2005 importing 54,955,143 cubic metres of wood products valued at 20,307,740.33 Euros.

It said India imported 59,118,648 cubic metres of wood products, mainly teak, worth 19,648,279.40 Euros from Ghana between January to September 2005.

The release said in 2004, India imported 18,728,934 cubic metres of wood products valued at 5,753,036 Euros during the same period. It said exports to the European market, especially countries under the European Union was 172,220 cubic metres or 48.90 per cent worth 74,861,459 Euros or 54.25 per cent of the total value for the period.

The release said Italy was the single largest European importer with 37,061,696 cubic metres of wood products worth 20,257,277.72 Euros. It said 10 out of 68 countries contributed 85.51 per cent to the total earnings for the period under review.

The countries were the United States, Italy, India, Germany, France, Belgium, Spain, Saudi Arabia, Senegal and Nigeria.

It said Nigeria topped ECOWAS countries that imported wood products from Ghana during the first quarter of this year, and the imports were mainly Plywood while Senegal imported mainly Air Dried Lumber.

The release said lumber exports for January to September 2005 was 68,669,174 Euros and the level of Kiln Dried Lumber export continued to rise while export of Air Dried Lumber decreased.

It attributed the disparity in the exports to the increasing kilning capacity of the industry and inherent disincentive (Export Levy) in Air Dried Lumber.

The release said kiln Dried Lumber formed 52.23 per cent of the January to September 2005 lumber exports and contributed 35,878,266 Euros to the total earnings for the period.

It said, "Equally significant are the steady inroads which the industry has made to sustain the popularity and acceptability of Ceiba Core Lumber among buyers in European."

The release said, Samartex Timber and Plywood Limited, Ayum Forest Products, Logs and Lumber Limited, John Bitar, Naja David Veneer and Plywood , Olam (Gh) Limited and Ghana Primewood Limited together contributed 46.86 per cent of the total earnings for January to September 2005 amounting to 64,664,234.18 Euros.

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