98% of Panama’s Timber Exports are Teak, According to Apex
- June 25, 2024
- 10:07 am
Lourdes García Armuelles
Panamá East is characterized by having the highest presence of such plantations.
In Panama, 98% of wood-related exports primarily come from teak, a non-native species, confirmed Bianca Morán, President of the Panamanian Association of Exporters (Apex).
“98% of what Panama exports is teak. We are talking about between 7 and 10 40-foot containers per year with a value of over $30 million,” Morán reported during a press meeting on Tuesday, June 25.
Panama East is characterized by having the highest presence of these types of plantations, although there is also some presence throughout the country, including the province of Chiriquí.
The accumulated hectares amount to 80,000 hectares of forest plantations, reported the president of Apex.
Although teak remains one of the largest export sectors in the country, Morán clarified that the activity has been "fluctuating" as it heavily depends on market demand.
Teak is a commodity just like copper and gold. So, it depends on market demand. For example, this year in Europe, one of our major markets, there is an economic recession,” she emphasized.
Teak is a type of wood predominantly used for creating outdoor furniture. Its high presence in Panama has made the country one of the largest certified producers in the region.
To continue leveraging these advantages, the Apex president called for promoting the arrival of more certified forestry investors.
Álvaro Castillo from the Forest Management Division, Natural Heritage Section of the Ministry of Environment, stated that Panama promotes legal timber trade while also respecting forest conservation.
He explained that to oversee the export process, the entity plays a role in inspecting the areas where wood is processed and ensuring that the wood has reached the market through all legal channels, including forest registration, operational certification, export guides, sales invoices, and other processes.
With all that package, the export transportation to the port is done. After that, the responsibility is with Customs," said Castillo, who acknowledges that there is interest from the companies.
About us
Panamá Teak is a registered trademark dedicated to the marketing and sale of forest products crafted from 100% FSC® certified tectona grandis teak, naturally grown and commercially cultivated in the Republic of Panama.
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