Dull European markets hold down prices for African timbers
¡¾2002.11.25¡¿

No significant changes in the overall situation in supplies from West Africa were noted over the past two weeks and prices remain unchanged. The dull European markets are keeping the lid on any efforts to improve demand and price levels. The Netherlands market is especially depressed with some overstocking of some species are reportedly retailing at below replacement costs.

Ther is good demand from China for Gabon Okoume logs and prices are said to be firm to rising. Okoume log supplies are low because of the rains which is causing transportation problems. The outlook is for the poor market conditions to continue holding prices at current levels into the New Year