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In recently concluded auction sales at the government forest depots in Jabalpur, Narmada Nagar and Raipur divisions of Central India, approximately 8,000 cubic metres of mainly teak and small quantities of haldu and laurel were sold. Average prices for domestic teak logs per cubic foot, ex-depot, are shown below.
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Supplies and shipments of imported plantation teak have been maintained and the volume of imports increased by 5% over the past month. Some minor price changes have been reported.
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The Prime Minister’s Economic Advisory Council has, in a recent statement, indicated that a turn-around in economy from a decade’s low growth is expected during fiscal 2013-14...
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In a bid to conserve state forest resources the Jammu and Kashmir government has adopted policies liberalising the procedures for timber imports and out of state purchases by manufacturers...
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The budget for 2013-14, presented by the Finance Minister Mr.P.Chidambaram, has not increased import duties on wood in the rough, sawn timber, plywood and other panel products...
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While the Indian economy could not avoid the impact of the weak global economy and also had its share of economic shocks, activity in wood based industry was rather resilient and demonstrated continued expansion, albeit more slowly than over the past few years...
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India’s increasing trade deficit, along with the withdrawal
of investments by investors from Europe and N. America,
has added to the toll on the value of Indian rupee against
all major currencies...
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India’s GDP fell to a two year low of 6.9 percent in the
second quarter of this financial year, slipping below 8%
for the third straight quarter...
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Fluctuations in the Rupee/US Dollar exchange rate have
affected timber imports and the current 10% rise in import
costs due to the weakening of the Rupee is difficult for the
industry to absorb...
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Gandhidham is a city and a municipality in the Kutch
District of Gujarat State and home to India's largest port
Kandla which is around 11 km from the city...
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Serious fluctuations in the Rupee and US Dollar exchange
rate have affected imports of timber and in recent weeks
the 10% rise in import costs of logs due to the depreciation
of the Rupee cannot easily be absorbed by industry say
local observers...
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A chronic problem of raw material shortages for wood
based panel industries has resulted in many plants having
to run well below capacity...
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Auction sales at Government Forest Depots in Gujarat and
Central India are continuing and price trends for teak have
been reported as firm, this also applies to other hardwood
logs...
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