India: Teak log prices firm at local auctions
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India: Teak log prices firm at local auctions
June 22, 2011 • Source: ITTO's Tropical Timber Market Report • View s: 10761
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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. In the recent sales the ratio of teak to other hardwoods has been 80: 20. Pre-monsoon stock building drives up prices of imported teak Supplies of plantation teak from Ghana and Ivory Coast have been erratic recently but Central and South American supplies have been steady and have continued to support the demand in Mumbai, Kandla and Mangalore. Forward contract levels are also reportedly good and supplies will be maintained in the weeks to come. Premonsoon stock building by sawmillers is keeping prices firm.
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