Ghana: Firm demand at low prices an issue in the US market
In contrast, exporters of mahogany sawnwood to the US market were, with a few exceptions, unable to satisfy the GSP. The gap between the contract price and the GSP in the second quarter was around 3-7%. However, in the third quarter the difference between the price being offered by US buyers and the Ghana GSP widened to 7-11%. Ghana’s under utilised species such as celtis, yaya and denya continued to find markets in the Middle and Far East countries. Shorts of denya sawnwood continue to attract buyers for the Chinese market.
Ghana’s exports to the US boosted by African Growth and Opportunity Act
Ghana’s exports of all products to the US doubled during the period September 2010 to September 2011 according to the US International Trade Commission (USITC) which uses statistics data provided by the US Department of Commerce to compile country reports.
This performance was aided by the US ‘African Growth and Opportunity Act’ (AGOA). The data show that Ghana’s export under the AGOA (including the GSP) increased from US$31.1 mil. September 2009- 2010 to US$195.7 mil. over the same period up to September 2011. Ghana’s main exports to the US market comprised agricultural products, forest products, textiles and apparel.
ghanaLog Domestic Prices
|Ghana logs, domestic||US$ per m3|
|Up to 80cm||80cm+|
|Odum Grade A||160-170||175-185|
|Khaya/Mahogany (Veneer Qual.)||111-123||125-145|
|Sapele Grade A||145-155||160-185|
|Makore (Veneer Qual.) Grade A||128-135||140-166|
Export Sawnwood Prices
|Ghana Sawnwood, FOB||€ per m3|
|FAS 25-100mm x 150mm up x 2.4m up||Air-dried||Kiln-dried|
|Edinam (mixed redwood)||400||450|
|African mahogany (Ivorensis)||568||685|
|Wawa 1C & Select||260||307 ▲|
Domestic Sawnwood Prices
|US$ per m3|
Export Veneer Prices
|Rotary Veneer, FOB||€ per m3|
|CORE (1-1.9mm)||FACE (<2mm)|
|Ogea & Otie||320||350|
The above prices are for full sized panels, smaller sizes minus 15%. Thickness below 1mm would attract a 5% premium.
Export Rotary Veneer Prices
|Rotary Veneer 2mm and up, FOB||€ per m3|
|CORE (2mm & up)||FACE (2mm & up)|
Export Sliced Veneer Prices
|Sliced Veneer, FOB||€ per sq. m|
Ghana Export Plywood Prices
|Plywood, FOB||€ per m3|
Grade AB/BB would attract a premium of 10%, B/BB 5%, C/CC 5% and CC/CC 10%.
Ghana Added Value Product Prices
|Parquet flooring 1st||FOB € per sq.m|
Grade 2 less 5%, Grade 3 less 10%.
Export Moulding Prices
|Mouldings (FOB export)||€ per m3|
Dahoma grade 1
Denya grade 1
Hotrohotro grade 1
Wawa grade 1
Wawa grade 2
Ekki grade 1
Wawabimba Laminated grade 1