Mixed trends in prices for Guyana’s timber

Prices for Guyana’s timber on the international market have varied since the start of this month, the German-based IHB International Timber Exchange has said in its latest report.

During this period, purpleheart log prices remained relatively stable for all qualities, while mora log prices were down, the report said. For sawn wood, undressed greenheart prices were favourable for the prime, select and sound qualities. Undressed purpleheart prices slipped, while mora prices continued to hold.

According to the report, dressed greenheart top-end prices rose from US$890 to US$1,450 per cubic metre, but the exported volumes were small. Prices for dressed purpleheart remained steady in the period under review. Additionally, exports of lesser used species of wood to the European market raked in good average prices. Guyana’s washiba (ipe) continues to be in demand in the U.S. market, attracting an average price of US$1,750 per cubic metre, the report stated. It added that roundwood, fuelwood and splitwood made notable contributions to total export earnings, with the main destinations being the Caribbean, Europe and North America. Average prices for split wood reached a high of US$969 per cubic metre.          For the period under review, exports of value-added products were significant, the report said, noting that the major exported products were doors, indoor furniture, windows, mouldings and spindles. Species used in the manufacturing of these products included greenheart, purpleheart, crabwood and kabukalli. The Caribbean was the major market for Guyana’s value-added products. 

The report also mentioned that on November 9, the first $20 million kiln-drying complex was opened in Essequibo Coast. The facility was commissioned under the ITTO-funded project, “value adding and kiln drying of commercial timbers by small scale community saw millers in Guyana” being implemented by the Guyana Forestry Commission. 

The complex has a capacity to dry 10,000 cubic metres of timber. The Essequibo region accounts for 50 per cent of Guyana’s total timber production. Agriculture Minister Robert Persaud, who opened the complex, noted that the kiln-drying facility is the first of three to be established nationwide. The facility also puts more focus on processing in Guyana and promoting exports of value-added products. This is expected to create more jobs and opportunities for loggers and concession holders.