Myanmar teak, hard wood export in FY 2013-14 breaks record

Myanmar teak, hard wood export in FY 2013-14 breaks record

YANGON, Oct. 6 (Xinhua) — Myanmar exported over 1.5 million tons of teak and hard wood in fiscal year 2013-14, breaking the record of 1.1 million tons of teak and hard wood export in fiscal year 2007-08 which was the highest export value in the previous government term, according to the forestry authorities Monday.

In the 3-year term of office, a total of 5.74 million tons of teak and hard wood were produced.

Starting April this year, Myanmar ceased log export except finished wood products.

Exporting only finished or semi-finished wood products can promote foreign investment in the wood based industry in terms of production technology, bringing business opportunities to local people, officials said.

According to official statistics, before stopping log export in April 2014, Myanmar exported 1.6 million cubic meters of teak log and 1.1 million cubic meters of hardwood log in fiscal year 2013- 14 which ended in March, earning 637.5 million U.S. dollars and 225.3 million dollars respectively.

Myanmar’s forest coverage reached 57 percent of the country between 1980 and 1990 and it has reduced to 47 percent at present.

Source: Global Post

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