Ghana: Wood product exports dropped in early 2022

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ITTO/Fordaq
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The much delayed wood products export figures published by the Timber Industry Development Division (TIDD) of the Forestry Commission for the period January to February 2022 reports a year on year 5% increase in export volumes but a decline of over 15% in export earnings. The country earned Eur19.26 million from the exports of 44,237 cu.m in the first two months of 2022.

The low value for exports is reflected in the steep decline in the average unit price which dropped from Eur583/cu.m in the Jan-Feb2021 period to only Eur435/cu.m in the January-February 2022 period.

Air and kiln-dried sawnwood accounted for 49% and 15% respectively of the total export volume for the period. The volumes of these products exported in 2022 were higher than in the same period in 2021. However, the export earnings dropped considerably (-22% and -9%).

Plywood exports to regional market in the first two months of this year were 53% higher year on year and totalled 4,351 cu.m valued at Eur1.74 million. The volume of plywood exports represented around 10% of total wood exports for the period.

The major markets for the country’s wood products for the period reported were Asia (60%), Europe (17%) and Africa (13%) with N. America and accounting for much of the balance. The main species exported were teak, ceiba, wawa, denya and essa.

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