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Business News of Saturday, 21 December 2024

    

Source: www.ghanawebbers.com

Ghana’s timber export value for third quarter amounts to €92.6m

Ghana’s timber export value for third quarter amounts to €92.6m Ghana’s timber export value for third quarter amounts to €92.6m

In the third quarter of 2024, Ghana’s timber export value reached €92.6 million, falling short of the €145 million target, according to Forestry Commission CEO John Allotey.

The export volume amounted to 290,000 m³, while domestic lumber production stood at 450,000 m³. Key exports included lumber, billets, plywood, and rotary veneer.

Mr. Allotey also highlighted the Commission’s commitment to staff development, including training 447 employees and launching a Natural Resource Management course in partnership with the University of Energy and Natural Resources.

Additionally, the 2024 Green Ghana Day aimed to plant 10 million seedlings, and a 40% increase in Timber Stumpage fees was implemented to counter inflation and currency depreciation.

Efforts to combat illegal mining have seen 525 arrests by the Forest Service Division. Ghana is set to deliver its first FLEGT-certified timber shipment to the EU by June 2025. During the Chief Executive’s award ceremony, outstanding staff were recognized and rewarded for their contributions.