In the first four months of 2018 Ghana’s wood product exports totalled 115,225 cu.m compared to 92,937 cu.m during the same period in 2017, an increase of almost 24%.
In eight of the 18 categories of wood products exported during the period significant increases in export volumes were observed as shown in table in the second picture.
The leading species used for the production and subsequent export shipments were teak (35%), rosewood (14%), wawa (9.5%), ceiba (8%) and papao/apa (8%).
As has been the case for several years, markets in Asia continue to consume most of Ghana’s wood products with lesser volumes being shipped to European markets and the US.
The regional ECOWAS market accounts for a significant part of Ghana’s total exports but in the first four months of this year the volume shipped to ECOWAS markets dropped to 6,956 cu.m from the 7,192 cu.m in the same period in 2017. This was despite a slight increase in exports overland to Nigeria.
While volume sales to ECOWAS countries were down prices improved. The average unit price for regional sales between January and April 2018 was Euro 370 per cu.m up from Euro 332 per cu.m last year. Analysts point out that the increase was most likely due to the rise in demand in Togo, Niger, Burkina Faso, Benin, Senegal, Nigeria and Cote d’Iviore.