Wednesday, 12 March 2014

Myanmar revises deadline for export log payments

Mar 11, 2014. /Lesprom Network/. Myanmar’s export shipments from 1 April 2013 to end January 2014 are estimated to have been 397,807 cubic metres of teak logs and 1,307,095 cubic metres of other hardwood logs. Total export shipments for the 2012-13 fiscal year were 494,650 cubic metres of teak logs and 1,561,540 cubic metres of other hardwood logs, as ITTO reported.

Though shipments this year are likely to exceed those of the previous year, analysts do not expect to see any significant change in export volumes. However, recently shipments from Yangon Port have increased.

It has been reported that the date for final payment for logs that are ready to be exported has been extended to 31 March 2014 rather than the previously announced date of 28 February 2014. However, overseas buyers are advised to ship all logs by midnight 31 March 2014.

Logs that are not shipped before the 1 April deadline will have to be processed in some way in Myanmar.

The date for final payment of these logs has been extended to 30 September 2014 instead of the previously announced 30 June 2014.

source: Lesprom
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