Myanmar: November teak log auction results

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ITTO
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A total of 430 tons of Sawing Grade 7 teak logs were sold to domestic mills by open tender on 6 December. Three local companies bid during the sale. The highest bid obtained was US$610 per ton, considerably lower than the price that MTE can secure from international buyers for logs of the same grade.

Despite the significant difference in log grading for local sales and international tenders analysts point out that the price of just US$610 per ton is an indication of what price levels the MTE can expect to get from the sales of logs after the log export ban. A lack of foreign competition will invariably bring log prices down resulting in much reduced revenue for the MTE but better incentives for domestic manufacturers.

The following shows the grade, quantity and prices for teak logs during the 22 and 25 November tender conducted by the MTE.

Grade Quantity (Tons) US$ per hoppus ton
4th Quality 10 6611
Sawing Grade-1 12 5012
Sawing Grade-2 24 3660
Sawing Grade-4 271 3147
Sawing Grade-5 57 2878
Sawing Grade-6 170 2194
Sawing Grade-7 130 1729

Hoppus ton=1.8m3; All grades, except SG-3/5/6, are length 8’ x girth 5’ &up. SG-3/4/6 are girth 4’ &up. SG-3 grade is higher than SG-4 but with lower girth and price. Prices vary due to quality and/or girth at the time of the transaction.

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