Malaysia reviews timber export forecasts

24 October 2011

The Malaysian Timber Industry Board is reviewing its forecast for 2011 timber exports, according to the latest market report from the International Tropical Timber Organisation.

The country’s exports of timber and wood products amounted to MR20, 52bn (US$6.8bn) in 2010 but analysts report the figure is likely to be lower this year.

Domestic demand remains buoyant, with consumption estimated to be worth around MR20bn (US$6.35bn), of which sawn timber accounts for MR10bn (US$3.18bn), furniture MR4bn (US$1.27bn), plywood and other panels MR4bn (US$1,27bn) and joinery products MR1bn (US$0.32bn).