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November saw signs of improvement in timber-producing nations

November saw signs of improvement in timber-producing nations

Posted on December 26, 2023   |  

In November, there were positive signs of improvement in the timber sector downturn in Malaysia, Mexico, and other countries.

The GTI Report monitors the timber industry in 7 pilot countries, including China as the primary tropical timber consumer and 6 major tropical-timber-producing nations.

GTIs of the 6 producer countries were below the 50% threshold in November, indicating a decline in the sector. 

However, values increased for all, suggesting a relief in the downward trend compared to the previous month.

Malaysia saw the most significant improvement, with a 9.9% point increase in the index, followed by Mexico with 5.9% points and Gabon with 4.6% points.

November, the peak season for China's timber market, saw increased demand and supply. 

Brazilian enterprises participating in the GTI reported challenges like transportation disruptions due to rain, affecting on-time deliveries. 

Despite increased log demand, it did not necessarily translate to greater profitability in wood production and manufacturing.