Ghana’s timber exports down 40% in the 1H 2020
Ghana’s timber export shipments for the first half of 2020 totalled 90.456 m3 earning Euro 44.79 million. This reflects a year-on-year 40% decline in volume and a 42% decline in the value of exports. Teak, wawa, ceiba and denya were some of the leading species exported, as ITTO reported.
Shipments of sawnwood accounted for 65% (59,000 m3) of total wood products exports with the main markets being India, Vietnam, China, Germany and the US. Sawnwood export volumes in the first half of 2019 totalled 114,059 m3.
In contrast to the decline in sawnwood exports, veneer exports increased to 8,141 m3, well above the 6,019 m3 exported in the first half of 2019. The top three export markets for veneers were the US, Canada and Spain.
The weak demand in international markets affected first half year export volumes and resulted in a decline in average export prices which dropped from Euro 531/ m3 in 2019 to Euro 495/ m3 in 2020.