A dream year ahead for timber

Cameroonian operators in the timber are already licking their lips halfway into this fiscal period. This was revealed by the International Tropical Timber Organisation (OIBT), quoted by Commodafrica, when it stated that “recent price hikes for the most in-demand timber have now consolidated with a consistent demand and producers are convinced that this will continue into the third quarter.” For Commodafrica, “Cameroonian exporters are especially well positioned, their orders going all the way to the last quarter of 2014.”

At the root of this blossoming in the global timber market is “an increase in demand covering several markets, including Europe and the United States while demand in Asia and the Middle East has been steady over the last few months. Outlook is positive for China, Vietnam and India.”

One source of concern that has arisen in this global timber market analysis is “the producers’ capacity to provide enough logs to keep up with the shipment schedule.” But, from this point of view as well, Cameroon’s timber sector has been fortunate. “Exports from Cameroon, though lower, have been going strong and this level of demand supports the entire market,” stressed OIBT analysts.

Among sectors hit hard by the 2008 international financial crisis, with up to 30% in cancelled orders by Europe and the USA, according to the forestry union, Cameroonian timber has since then made a rebound affirming its position as the number two export product from that country (13.3% in profits) behind oil (50% of export profits). With 45,000 jobs, it contributes to the training of 6% of the nation’s GDP.