Month: August 2011

As usual during Europe’s lengthy summer vacation period, there has been a slowdown in tropical hardwood trading. Importers in many parts of Europe suggest that overall trade during the first half of 2011, while unspectacular, was an improvement on the same period the previous year. However, the volumes involved were well down on levels prevailing before the recession and there is little expectation of any significant upturn when buyers return at the end of August. On-going concerns about the debt crises in the euro-zone and government austerity measures has contributed to a general feeling of uncertainty about the future direction of demand and raised the spectre of volatile exchange rates. Nor has the long-term problem of limited access to credit amongst importers been resolved.