This report provides a comprehensive analysis of the markets for teak in India, China, Vietnam and Thailand, which collectively dominate the global market for teak timber. Understanding the nature of these markets and the specific characteristics of each country, including the way timber is measured and traded, is important in terms of assisting teak sellers to access these markets.
Source: Australian Government, Australian Centre for International Agriculture Research
Release Date: 2015
Download Original: Planted teak: global production and markets, with reference to Solomon Islands
Planted Teak – High Value Timber
Teak is probably the most widely planted high-value timber in the world, with plantings in Africa, the Pacific, South America and throughout Asia. The global area of planted teak is approaching 7 million hectares. While some of these plantations belong to governments and large companies, a significant proportion belongs to smallholder growers.
Since 1992, the Australian Centre for International Agricultural Research (ACIAR) has been supporting research in South-East Asia and the Pacific on the growing, management and processing of teak, because of its potential for fast growth and production of high-value wood. Many smallholder farmers have planted teak on the understanding that there is a strong global demand for teak timber and it commands a high price. Yet, in many countries, such as Solomon Islands, the markets for teak and other high-value planted timbers are quite immature. This means that many smallholders find it difficult to get appropriate returns from the trees they have planted.
Teak is a highly durable, water- and pest-resistant tropical hardwood, which makes it one of the world’s most highly valued timbers and among the most popular plantation species. It is used in boat building, residential and commercial architecture and construction, furniture making (solid and veneer), carving and the manufacture of other decorative and symbolic wood products.