Buyers in the European markets are not yet fully committed to their fourth quarter purchase which has meant prices for their favourites, sipo and sapele, have not moved for a month in Central/West Africa. Analysts say there are no clear signs of a recovery in demand for sipo and sapele sawnwood. Padouk sawnwood is still out favour in European and Indian markets and prices will be under pressure unless demand picks up soon.
While demand for ayous in the Italian market is currently very quiet, prices remain stable. It is anticipated that demand in Italy will recover towards end of the year. Overall, West and Central African producers report moderate business in terms of volume and are content as prices are holding as they have done for most of this year.