Ghana raises minimum export trading prices for timber

Ghana has raised the minimum trading prices of wood products meant for export.

The Guiding Selling Pricing Committee of the Timber Industry Development Division (TIDD) of Ghana’s Forestry Commission (FC) which revised upward the Guiding Selling Prices (GSP) of sawn wood products for export, says the upward revision of prices is to better reflect the prevailing market conditions and Euro exchange rates.

The committee raised the price for sawn Denya from €360 to €400, the price of Ekki went up from €360 to €370. The price of Mahogany K.ivorensis was raised from €554 to €559, and Sapele went from €545 to €555.

The committee also announced a €10 per (cubic meter) cu.m increase in the minimum export price of plywood of all sizes, thickness and species.

Meanwhile, figures from the FC says the country earned GH¢294 million from timber exports in 2010 as compared to GH¢270 million in 2009.

In 2010, the country exported  about 403,000 cu.m of timber as against 426,000 cu.m. FC officials however, say the decline in revenue was due to the global economic crisis

By Emmanuel K. Dogbevi