The following prices were recorded for teak log sales during competitive bidding on 26th and 29th July during the Myanma Timber Enterprise tender.
|Grade||Quantity (Tons)||US$ per hoppus ton|
Hoppus ton=1.8m3; All grades, except SG-3/5/6, are length 8’ x girth 5’ &up. SG-3/4/6 are girth 4’ &up. SG-3 grade is higher than SG-4 but with lower girth and price. Prices vary due to quality and/or girth at the time of the transaction.
Vessels waiting for cargo as log deliveries are slow
Natural teak is still reported to be trading below expectations and demand for non-teak hardwoods remains very weak. Analysts say that delivery of logs to the port has been slow such that vessels have to wait for cargoes.
Durable species like pyinkadoe and thitya, ingyin are currently poor in demand. Some analysts say the weak Indian rupee has had a negative effect on sales as India is the major buyer of Myanmar teak.