Funding gap forces ITTO to cease its tropical wood market reports

A lack of funding has forced the International Tropical Timber Organisation (ITTO) to suspend the publication of its valued market information service.

The fortnightly market report gives information, pricing and market reports on all the major timber producing regions in the world, updating importers, exports, producers and traders of relevant issues.

ITTO said its recent meeting in Guatemala had adopted the ITTO Biennial Work Programme for 2012-2013, which includes a commitment to continue publication of the market report.

“The Market Information Service is, however, pending financing,” it said. “Accordingly, the publication of the service is suspended until further notice.”

One UK timber trading contact described the news as “sad” and urged ITTO to have a rethink.

“For many it is a vital source of information on tropical wood.”

He hoped ITTO staff would continue to produce the bulletin voluntarily while the funding issue is resolved.