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20.04.2012 Business & Finance

Timber exports decline as value increases

By Joy Business
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Timber exports for the first quarter of this year declined in volume reflecting in the total revenue to the country. The timber volume reduced from 90 thousand cubic meters to 62 thousand translating into about 22 million Euros in revenue to the country compared to 30 million Euros within the same period last year.

This decline has been attributed to lack of timber logs as raw material for timber processing.

According to the Chief Executive of the Forestry Commission, Afari Dartey, although the volume of exports continues to fall, the value in terms of unit price has improved. He also said that even though the country is exporting less, it is getting more for its export adding that despite the fact that there is a difference of close to 30 thousand cubic meters, in terms of value the difference is just 9 million Euros.

He said that the decrease revealed that the Commission is achieving one if its targets which is to have low volume of export but high export value.

Mr Afari Dartey also revealed that Ghana must do its best to support the industry to go into further processing which will be highly beneficial in the face of increase competition from a country like Liberia, which hitherto was under a UN embargo.

According to Mr Afari Dartey, the increased competition will hurt Ghana if it remains in the primary processing stage.

Meanwhile, there was a 5 percent decline in export figures for 2011 to record a total 320,000 cubic meters. This resulted in about €110,000 million to the country.

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