Timber product export contract approvals dropped in the second quarter, according to the latest market report of the International Tropical Timber Organisation.

The Ghana Forestry Commission reported a contract volume of 88,869m³ for the period, a decline of 7% compared to the first quarter.

The biggest fall was for air- and kiln-dried sawn timber which reduced by 21% to 28,530m³ from 36,190m³ in the first quarter.

Plywood approvals were also down 12% to 30,370m³.

Product areas registering increases included rotary and sliced veneer, teak poles, billets and logs.