An unexpected ‘wobble’ in the market has resulted in prices for sapele and sipo sawnwood dipping sharply. The volatility in prices for these two species is the result of a slowdown in purchases for China coinciding with the seasonal downturn in the traditional European markets as the summer vacation period begins.
Another factor for the price weakness is the higher level of sapele and sipo sawnwood production especially in Cameroon, Congo Brazzaville and Central African Republic. Mills in the region increased output to meet growing demand in Europe but now, due to the summer slowdown, production is well above consumption,