Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber

Peter Kessels Dadzie; Kojo Agyapong Afrifah; Paul Benedict Inkum

doi:doi:10.11648/j.ijber.20150406.16

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Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber

Peter Kessels Dadzie, Kojo Agyapong Afrifah, Paul Benedict Inkum

Published in International Journal of Business and Economics Research (Volume 4, Issue 6)

Received: 3 November 2015 Accepted: 15 November 2015 Published: 30 December 2015

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Abstract

Market trends information like price/value fluctuations aid traders and investors to create profits. This study assessed unit values of garden furniture and lumber among wood species, as well as the destination and product type effect on these values. Reports on wood products export were reviewed to obtain data for analyses. Findings were that values/m³ of all wood species were higher when used for garden furniture than when used for lumber production for exports. Among the identified wood species for both garden furniture and lumber production for export, Pericopsis elata (afromosia) had the highest value for both furniture (€3,308.844) and lumber (€869.00) whereas Terminalia ivorensis (emire) had the least furniture value (€1,336.936) while Pycnanthus angolensis (otie) had the least lumber value (€263.10). Sweden and Italy respectively offered the highest (€17,891.80) and lowest (€1134.30) mean garden furniture value, while Sweden and France respectively offered the highest (€557.31) and lowest (€314.97) lumber value. Direction of trade and product type had significant effect (p<0.01) on values of the products and they explained 92.3% of the variations. Generally, both products registered a decreasing trend in volumes exported over the period but lumber value/m³ appreciated whereas furniture value/m³ fell. Conclusions were that the most valued wood species for both lumber and furniture in the export market is afromosia and the best destination for both furniture and kiln-dried lumber export is Sweden. Based on monetary values, it was recommended that garden furniture production for exports should be encouraged than lumber, and furniture export to Sweden could yield higher values/m³.

Published in	International Journal of Business and Economics Research (Volume 4, Issue 6)
DOI	10.11648/j.ijber.20150406.16
Page(s)	307-314
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2015. Published by Science Publishing Group

Keywords

Furniture and Lumber Exports, Wood Products Prices, Ghana’s Exports, Market Trends

References

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APA Style

Peter Kessels Dadzie, Kojo Agyapong Afrifah, Paul Benedict Inkum. (2015). Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber. International Journal of Business and Economics Research, 4(6), 307-314. https://doi.org/10.11648/j.ijber.20150406.16

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ACS Style

Peter Kessels Dadzie; Kojo Agyapong Afrifah; Paul Benedict Inkum. Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber. Int. J. Bus. Econ. Res. 2015, 4(6), 307-314. doi: 10.11648/j.ijber.20150406.16

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AMA Style

Peter Kessels Dadzie, Kojo Agyapong Afrifah, Paul Benedict Inkum. Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber. Int J Bus Econ Res. 2015;4(6):307-314. doi: 10.11648/j.ijber.20150406.16

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@article{10.11648/j.ijber.20150406.16,
  author = {Peter Kessels Dadzie and Kojo Agyapong Afrifah and Paul Benedict Inkum},
  title = {Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber},
  journal = {International Journal of Business and Economics Research},
  volume = {4},
  number = {6},
  pages = {307-314},
  doi = {10.11648/j.ijber.20150406.16},
  url = {https://doi.org/10.11648/j.ijber.20150406.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20150406.16},
  abstract = {Market trends information like price/value fluctuations aid traders and investors to create profits. This study assessed unit values of garden furniture and lumber among wood species, as well as the destination and product type effect on these values. Reports on wood products export were reviewed to obtain data for analyses. Findings were that values/m3 of all wood species were higher when used for garden furniture than when used for lumber production for exports. Among the identified wood species for both garden furniture and lumber production for export, Pericopsis elata (afromosia) had the highest value for both furniture (€3,308.844) and lumber (€869.00) whereas Terminalia ivorensis (emire) had the least furniture value (€1,336.936) while Pycnanthus angolensis (otie) had the least lumber value (€263.10). Sweden and Italy respectively offered the highest (€17,891.80) and lowest (€1134.30) mean garden furniture value, while Sweden and France respectively offered the highest (€557.31) and lowest (€314.97) lumber value. Direction of trade and product type had significant effect (p3 appreciated whereas furniture value/m3 fell. Conclusions were that the most valued wood species for both lumber and furniture in the export market is afromosia and the best destination for both furniture and kiln-dried lumber export is Sweden. Based on monetary values, it was recommended that garden furniture production for exports should be encouraged than lumber, and furniture export to Sweden could yield higher values/m3.},
 year = {2015}
}

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TY  - JOUR
T1  - Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber
AU  - Peter Kessels Dadzie
AU  - Kojo Agyapong Afrifah
AU  - Paul Benedict Inkum
Y1  - 2015/12/30
PY  - 2015
N1  - https://doi.org/10.11648/j.ijber.20150406.16
DO  - 10.11648/j.ijber.20150406.16
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 307
EP  - 314
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20150406.16
AB  - Market trends information like price/value fluctuations aid traders and investors to create profits. This study assessed unit values of garden furniture and lumber among wood species, as well as the destination and product type effect on these values. Reports on wood products export were reviewed to obtain data for analyses. Findings were that values/m3 of all wood species were higher when used for garden furniture than when used for lumber production for exports. Among the identified wood species for both garden furniture and lumber production for export, Pericopsis elata (afromosia) had the highest value for both furniture (€3,308.844) and lumber (€869.00) whereas Terminalia ivorensis (emire) had the least furniture value (€1,336.936) while Pycnanthus angolensis (otie) had the least lumber value (€263.10). Sweden and Italy respectively offered the highest (€17,891.80) and lowest (€1134.30) mean garden furniture value, while Sweden and France respectively offered the highest (€557.31) and lowest (€314.97) lumber value. Direction of trade and product type had significant effect (p3 appreciated whereas furniture value/m3 fell. Conclusions were that the most valued wood species for both lumber and furniture in the export market is afromosia and the best destination for both furniture and kiln-dried lumber export is Sweden. Based on monetary values, it was recommended that garden furniture production for exports should be encouraged than lumber, and furniture export to Sweden could yield higher values/m3.
VL  - 4
IS  - 6
ER  -

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Author Information

Peter Kessels Dadzie

Interior Architecture and Furniture Production Department, Faculty of Built and Natural Environment, Kumasi Polytechnic, Kumasi, Ghana
Kojo Agyapong Afrifah

Department of Wood Science and Technology, Faculty of Renewable Natural Resources, Kwame Nkrumah University of Science and Technology, Kumasi, Ghana
Paul Benedict Inkum

Interior Architecture and Furniture Production Department, Faculty of Built and Natural Environment, Kumasi Polytechnic, Kumasi, Ghana

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Peter Kessels Dadzie, Kojo Agyapong Afrifah, Paul Benedict Inkum. (2015). Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber. International Journal of Business and Economics Research, 4(6), 307-314. https://doi.org/10.11648/j.ijber.20150406.16

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ACS Style

Peter Kessels Dadzie; Kojo Agyapong Afrifah; Paul Benedict Inkum. Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber. Int. J. Bus. Econ. Res. 2015, 4(6), 307-314. doi: 10.11648/j.ijber.20150406.16

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AMA Style

Peter Kessels Dadzie, Kojo Agyapong Afrifah, Paul Benedict Inkum. Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber. Int J Bus Econ Res. 2015;4(6):307-314. doi: 10.11648/j.ijber.20150406.16

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@article{10.11648/j.ijber.20150406.16,
  author = {Peter Kessels Dadzie and Kojo Agyapong Afrifah and Paul Benedict Inkum},
  title = {Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber},
  journal = {International Journal of Business and Economics Research},
  volume = {4},
  number = {6},
  pages = {307-314},
  doi = {10.11648/j.ijber.20150406.16},
  url = {https://doi.org/10.11648/j.ijber.20150406.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20150406.16},
  abstract = {Market trends information like price/value fluctuations aid traders and investors to create profits. This study assessed unit values of garden furniture and lumber among wood species, as well as the destination and product type effect on these values. Reports on wood products export were reviewed to obtain data for analyses. Findings were that values/m3 of all wood species were higher when used for garden furniture than when used for lumber production for exports. Among the identified wood species for both garden furniture and lumber production for export, Pericopsis elata (afromosia) had the highest value for both furniture (€3,308.844) and lumber (€869.00) whereas Terminalia ivorensis (emire) had the least furniture value (€1,336.936) while Pycnanthus angolensis (otie) had the least lumber value (€263.10). Sweden and Italy respectively offered the highest (€17,891.80) and lowest (€1134.30) mean garden furniture value, while Sweden and France respectively offered the highest (€557.31) and lowest (€314.97) lumber value. Direction of trade and product type had significant effect (p3 appreciated whereas furniture value/m3 fell. Conclusions were that the most valued wood species for both lumber and furniture in the export market is afromosia and the best destination for both furniture and kiln-dried lumber export is Sweden. Based on monetary values, it was recommended that garden furniture production for exports should be encouraged than lumber, and furniture export to Sweden could yield higher values/m3.},
 year = {2015}
}

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TY  - JOUR
T1  - Some Market Trends of Wood Products Exports in Ghana and Their Implications for Stakeholders: The Case of Furniture and Kiln-Dried Lumber
AU  - Peter Kessels Dadzie
AU  - Kojo Agyapong Afrifah
AU  - Paul Benedict Inkum
Y1  - 2015/12/30
PY  - 2015
N1  - https://doi.org/10.11648/j.ijber.20150406.16
DO  - 10.11648/j.ijber.20150406.16
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 307
EP  - 314
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20150406.16
AB  - Market trends information like price/value fluctuations aid traders and investors to create profits. This study assessed unit values of garden furniture and lumber among wood species, as well as the destination and product type effect on these values. Reports on wood products export were reviewed to obtain data for analyses. Findings were that values/m3 of all wood species were higher when used for garden furniture than when used for lumber production for exports. Among the identified wood species for both garden furniture and lumber production for export, Pericopsis elata (afromosia) had the highest value for both furniture (€3,308.844) and lumber (€869.00) whereas Terminalia ivorensis (emire) had the least furniture value (€1,336.936) while Pycnanthus angolensis (otie) had the least lumber value (€263.10). Sweden and Italy respectively offered the highest (€17,891.80) and lowest (€1134.30) mean garden furniture value, while Sweden and France respectively offered the highest (€557.31) and lowest (€314.97) lumber value. Direction of trade and product type had significant effect (p3 appreciated whereas furniture value/m3 fell. Conclusions were that the most valued wood species for both lumber and furniture in the export market is afromosia and the best destination for both furniture and kiln-dried lumber export is Sweden. Based on monetary values, it was recommended that garden furniture production for exports should be encouraged than lumber, and furniture export to Sweden could yield higher values/m3.
VL  - 4
IS  - 6
ER  -

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