The price of face veneers cut from gurjan logs imported from Myanmar before the log export ban has risen by 25% to 50%. In the face of rising costs for gurjan face veneers it would be expected that manufacturers would switch to other species but that is not so easy in India
Plantation teak shipments continue to arrive irrespective of exchange rate fluctuations as India needs to import all types of wood including teak. Because of changed specifications and the willingness of importers to accept logs with smaller girths, prices have declined
Price variations depend mainly on length and cross section.
Domestic prices for Myanmar teak processed in India
The effects of higher log landed costs are now reflected in prices being quoted for Myanmar logs sawn by Indian mills
. Forecast decline in India’s GDP Unfortunately, India’s GDP slipped below 6% over the past year. India's economy is forecast to grow by about 5.8% this year, the slowest rate for many years according to official forecasts
India’s industrial output climbed 2.5 per cent in March, the fastest pace of expansion in five months.
Rising output has raised hopes that the worst of the decline in the economy may be over and the slowdown may have bottomed out
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