International situation a concern for Cameroon wood sector

Forest operators in Cameroon face difficult situation in the beginning of 2015. Indeed, International Organisation of Tropical wood (ITTO), reported that the weather on the world market is not lenient, especially as regards the price of the most popular species.

Indeed, industrial activity around the wood will shrink in the Asian market, dominated by China, which will celebrate the Chinese new year in February. According to some experts, the wood request in Asia has even reached its peak and prices do not vary, are likely to decline "in the absence of new stimulating factors.

"The European economic prospects are uncertain, and it is difficult to discern future trends of demand" analysed Commodafrica, stating that "demand from the Middle East remains closed and prices of tropical timber are stable, while Europeans try to take share of market with their temperate wood". According to the same source, "this lack of clear trends in international markets will complicate the task of Cameroon, which is poised to launch its annual offerings of concessions."

Concessions that should be quickly operationalized to comply with any orders in the course of the year, since 'logs at the port of Douala stocks decreased considerably and all remaining deliveries should be made by the end of the month' January 2015.

To recap, wood became the second export product of Cameroon, behind oil. The forestry industry also participates in 6% to the formation of the GDP of Cameroon.