Teak prices rise in US as Myanmar's export volumes fall

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This year the Myanmar Government is allowing only about 20% of the volume of teak to be exported as was exported last year, according to the Woodworking Network.

Prices in the US for short and narrow sawn teak strips, generally used for flooring and outdoor furniture have risen approximately 10%. Prices for intermediate size boards ranging from 6 to 10 inch width and 6 to 10 feet length have risen by 15-20%.

The steepest price rise has been seen in prime quality and long lengths which yacht builders revere. Lengths ten feet and longer and quarter sawn decking prices have jumped 20-30% and are expected to go even higher as the stock of available raw material continues to dwindle.