Friday, February 24, 2023
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Tropical timber production and operations declined in January in Brazil, the Congo, Indonesia, Gabon, Malaysia and Mexico, and timber manufacturing dropped in China, according to the latest report of the Global Timber Index (GTI).
Factors in the sector’s below-average performance in January included poor weather, weak demand, decreased productivity due to the Chinese New Year holiday, and rising costs. Other challenges were the commencement of a ban on log exports in the Congo, a derailment on the trans-Gabon railway, increasing product inventories, below-cost prices and long payment times. The report analyses the situation in each of the seven participating pilot countries.
The aim of the GTI is to facilitate business information and data exchange on the timber trade and promote collaboration among stakeholders in a stable, transparent and predictable business environment. It comprises part of the GTI Platform, which compiles, verifies, processes, analyzes and releases timber-related data from major producers and consumers based on mathematical modelling. The Platform is being developed as part of a framework of cooperation and collaboration between ITTO and the Macao Trade and Investment Promotion Institute (IPIM), which is supporting the activity financially. The work is being implemented by the Secretariat of the Global Green Supply Chains (GGSC). About 150 enterprises and companies are participating in the initial phase of the GTI Platform.
Source: ITTO
Tags: Global Green Supply Chains, Global Timber Index, Timber trade, tropical timber
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