West African sawn timber prices have made significant gains over recent weeks following Cameroon’s decision to ban exports of wenge and bubinga and strong Asian demand, according to the International Tropical Timber Organisation.
Prices of bubinga, moabi and padouk have increased by €25-45 per m³, while a sudden surge in demand for sipo has been reported, with prices up by €70 per m³.
The big price spike for sipo follows a long period of poor demand for the species.
ITTO’s latest market report said wenge and bubinga are not readily available, so it was likely prices for both species would continue to rise.
