Similar price trends for Asian sawnwood in both current (nominal) and constant 1990 values are shown in Figure 30. Identification of the major sawnwood species, with volume and price for 1992-93 is included in Appendix 24. The major species exported are Shorea spp (Meranti), Gonystylus bancanus (Ramin), Dryobalanops spp (Kapur), and Dipterocarpus spp (Keruing).
Figure 30. Price of Asian Sawnwood, 1990-1995
Bold lines show prices in constant 1990 US$ per cubic meter (deflated by the G-5 MUV Index used by the World Bank for deriving real commodity prices). Normal lines show nominal price trends.
Balau (Shorea glauca)
Dark Red Meranti (Shorea spp.)
Keruing (Dipterocarpus spp.)
Light Red Meranti (Shorea spp.)
Source: INTO. 1996. Annual review and assessment of the world tropical timber situation 1995.
Exporter price is the most complete for Dark Red Meranti, Selects and Better Kiln Dried. This species accounted for approximately one-third of the volume reported by ITTO for the select countries reported as shown in Appendix 24. Prices rose from US$ 400/cum to about US$ 550/cum (constant) from mid 1990 to early 1993. Price then increased rapidly to about US$ 800/cum (constant) in mid 1993 and remained at this level into early 1994. Thereafter, sawnwood price for this grade declined, most sharply in early 1995, reaching levels near or below US$ 600/cum at the end of 1995. This represented a gain of some 45 percent (constant) over mid 1990, but a drop of more than 20 percent from the highs achieved in 1993-94. Data is more limited and discontinuous for Balau and Keruing, yet indicate prices well below the Dark Red Meranti. Balau prices (constant) have been relatively stable near US$ 400/cum since mid 1994 with no significant trend. Keruing price has drifted downward after late 1993. While approximately equal to the price of Balau at early 1994, by the end of 1995 Keruing was about US$ 300/cum, or US$ 100/cum below Balau in constant terms.
Price for Light Red Meranti, Selects and Better, Kiln Dried are much more discontinuous as reported, yet closely follow the trend for Dark Red Meranti. Price spiked to US$ 800/cum in late 1993 (a few months later than the price spike for Dark Red Meranti), but rapidly declined to nearer US$ 700/cum before again climbing to near US$ 800/cum briefly in late 1994. Price at mid 1995 appears to be near US$ 600/cum and declining.