Myanmar: Teak auction prices in March

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The following grades were sold by competitive bidding on 10 and 21 March 2014 at the Myanmar Timber Enterprise (MTE) tender hall.

Grade H. Tons AVG US$ per H. ton FOB
4th Quality 10 $7,023
Sawing Grade-1 14 $5,722
Sawing Grade-2 33 $4,996
Sawing Grade-4 148 $3,362
Sawing Grade-5 30 $3,022
Sawing Grade-6 89 $1,501
Sawing Grade-7 95 $1,200

                                                                                                                                              Teak logs sales by Special Open Tender 21 March 2014 Maung Kone Depot, Momeik are shown below.

Grade H. Tons AVG US$ per H. ton
SG-4 5 $1,655
SG-5 8 $1,111
SG-6 7 $712
SG-7 22 $608
SG-8 14 $399

                                                                                                                                         Analysts say that, as these teak logs were sold on-site at the Maung Kone Depot in Momeik which is in the northern part of the country, it is unlikely these logs can be exported before the log export ban comes into effect.

Timber traders are desperately trying to ship whatever they can before the 1 April deadline and are being helped as both the weather and transport conditions are favourable. Analysts expect to see a further surge in export shipments of logs during the final days of March.