Crash in Teak Prices in Myanmar

16 May 2014

16 May 2014: The International Tropical Timber Organization (ITTO) launched the 1-15 May issue of the Tropical Timber Market (TTM) Report, which highlights the collapse of teak log prices in Myanmar ahead of the raw log export ban. The drop in price can be attributed to a sharp increase in prices before the ban came into effect combined with limited domestic mill capacity, which is causing a backlog in the milling of teak.

Related to the Myanmar story, the report notes that mills in India are increasingly switching to domestic supplies of teak as the international supply of raw logs diminishes. Other headline stories from the region feature an exploration of the potential of biomass and bioenergy to become a significant industry in Indonesia and a report that particleboard production in China has reached 25 million cubic meters per year.

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