Indian domestic teak prices climb at local auctions

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ITTO
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The effects of higher landed costs of imported logs and wood products are now being felt in the domestic trade and on sale prices for domestic timber.

Recent auctions prices paid by millers have increased and average prices per cubic foot ex-depot were as follows:

Log length Girth cm Cu.ft
2-3 metres 46-60 Rs.1000~1100
'' 61-75 Rs.1200~1300
'' 76-90 Rs.1400~1500
'' 91 and up Rs.1600 plus
3-4 metres 46-60 Rs.1300~1400
'' 61-75 Rs.1500~1600
'' 76-90 Rs.1700~1800
'' 91 and up Rs.1800 plus
4-5 metres 45-60 Rs.1400~1500
'' 61-75 Rs.1600~1700
'' 76-90 Rs.1800~1900
'' 91 and up Rs.1900 plus

                                                                                                                                                 Prices for Haldu (Adina cordifolia) and Laurel (Terminalia tomentosa) logs

3m to 4m Length Per cubic foot
46 to 60 cm. Girth -
61 to 75 cm. Girth Rs. 300-350
76 to 90 cm. Girth Rs. 400-450
above 91 cm. Girth Rs 550 plus

                                                                                                                                           Imported plantation teak prices

The demand for teak in India seems insatiable but the continued depreciation of the rupee is pushing up the cost of teak imports. Current prices, C & F Indian ports per cubic metre are shown below.

  US$ per m3
Tanzania Teak sawn 350-700
Côte d'Ivoire logs 450-750
PNG logs 400-575
El-salvador logs 350-650
Guatemala logs 330-500
Nigeria squares 300-450
Ghana logs 300-650
Guyana logs 300-450
Benin logs 350-600
Benin sawn 700-800
Brazil squares 350-600
Colombia logs 350-750
Togo logs 350-500
Ecuador squares 300-500
Costa Rica logs 380-650
Panama logs 350-550
Sudan logs 400-700
Congo logs 450-550
Kenya logs 450-500
Thailand logs 350-450
Trinidad and Tobago logs 380-550
Uganda logs 550-650

Price variations are based on quality, length of logs and the average girth.

Ex-mill prices for sawnwood

Domestic ex-sawmill prices for air dried sawnwood cut from imported logs. Price per cubic foot is shown below.

Sawnwood, (Ex-mill) (AD) Rs. per ft3
Merbau
1600-1650
Balau
1800-1900
Kapur
1200-1250
Red Meranti
900-950
Radiata Pine (AD)
 
White wood
600-650
 
600-650

                                                                                                                                                      Domestic prices for Myanmar teak processed in India

Slowing demand has resulted in relatively stable price structures.

Sawnwood (Ex-mill) Rs. per ft3
Myanmar Teak (AD)  
Export Grade F.E.Q.
5500-12500
Plantation Teak A grade
4000-4250
Plantation Teak B grade
3000-3200
Plantation Teak FAS grade
2450-2800

Price variations depend mainly on length and cross section of sawn pieces

Prices for imported sawnwood

Ex-wharehouse prices for imported kiln dry (12% mc.) sawnwood per cu.ft are shown below

Sawnwood, (Ex-warehouse) (KD) Rs per ft3
Beech 1300-1350
Sycamore 1300-1400
Red oak 1500-1650
White Oak 1600-1800
American Walnut 2300-2400
Hemlock clear grade 1300-1400
Hemlock AB grade 1100-1200
Western Red Cedar 1600-1650
Douglas Fir 1200-1300

                                                                                                                                                      Plywood prices advance once more

Strong demand and the rising costs of resins and logs due to exchange rate fluctuations have resulted in plywood manufacturers raising prices once more.

Plywood, Rs per sq.ft
Ex-warehouse. (MR Quality)  
4 mm 32.00
6 mm 47.00
12 mm 71.35
15 mm 84.25
18 mm 101.25

                                                                                                                                                      Domestic ex-warehouse prices for locally manufactured MR plywood

Locally Manufactured
Plywood “Commercial
Grade”
Rs per sq.ft
  Rubberwood Hardwood
4mm Rs.15.65 Rs.25.00
6mm Rs.23.50 Rs.34.00
8mm Rs.29.60 Rs.38.10
12mm Rs.35.25 Rs.44.50
19mm RS.49.50 Rs.61.25
5mm Flexible ply Rs.33.00  

                                                                                                                                              Exports fall but revival expected in second quarter

Exports declined in the first quarter of fiscal 2013 dropping by almost 1.5% year on year to US$72.4 billion.

At the same time imports of gold and silver also were down which helped narrow the trade deficit to a three month low of US$12.2 billion in June 2013, a healthy figure when compared to the high of $20.1 billion in May.

Declining exports are a global phenomena for those countries pursuing export led growth. China, for example, recorded a contraction in exports in June.

Indian exporters are asking the government to arrange an export credit facility as they are now severely hit by high interest rates from commercial banks.

The Indian Industrial Production Index also fell in May which, say analysts surprised many. Weak output numbers were anticipated but no-one expected negative growth.

However, despite the gloomy first half data analysts are optimistic that the export performance will have picked up in the second quarter. All eyes will be on the second quarter trade numbers when they are released.

Imperial tobacco reports on plantation initiatives

Social and Farm Forestry initiatives by Imperial Tobacco Company (ITC) have added more than 17,000 hectares of plantations during 2012-13 and this brought the cumulative area of plantations to around 142,000 hectares.

Planting activities have increased the ‘green cover’ improved raw-material supplies and have generated over 64 million man-days of employment for rural households including poor farmers.

The combined planting of trees and agricultural crops during the early years of the plantation provides for agricultural increased agricultural production.

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