Latest prices for Indian teak, plywood and sawnwood - 16-31 August 2019

Plantation teak prices

Serious efforts are being made by importers’ to get the government to ease the advance payment conditions for GST. The timber sector is not the only one affected adversely by the GST implementation and in some other sector industrial action has been taken to draw attention to
the issue.

The rupee is slipping against the US dollar and dropped to Rs.71, per US dollar, the year’s lowest. A firm dollar, weak domestic equity markets and asset outflows from India as the super-rich move money to avoid the recent tax hike weakened the rupee.

C&F prices for teak imports continue within the same range as reported previously.