Determinants of Wood Prices: Analysis of Wood Retailers in Kumasi

Abstract

This paper investigates the determinants of wood pricing in Ghana. The purpose of this study is to assess the factors that influence the prices of wood product at the various wood markets and retailers in Kumasi which have large variety of wood and different categories of retailers in the industry. The study employs a survey design where respondents are conveniently selected. A semistructured questionnaire was designed to gather data from the respondents. STATA version 12.0 software and several sets of statistical analyses such as frequency tables, percentages, and mean point values were performed. Linear regression was employed to estimate the determinants of wood product prices in the wood markets and retail outlets in Kumasi metropolis. The findings of this study suggest that, most of the price determining factors have a positive relationship with the price of wood sold whilst others such as quantity of wood sold and low quality wood products have a negative relationship with the price of wood product sold. Based on the findings of the study, the researchers recommend to future researchers to concentrate further studies on how government policies affect wood prices and also types of wood and their influences on prices.

Benefits and Value of Big Trees in Urban Area: A Study in Bang Kachao Green Space, Thailand

“…Timber price is one of the key elements in forest evaluation so the different prices of timber are unique to the factors of each timber tract: species, tree size, tree quality, volume of sale, distance to market, site accessibility, logging difficulty, market conditions etc. Kankam-Kwarteng et al (2016) reported the types of wood have greater influence in determining pricing of wood products since they consider some wood to be of better quality than others. Cost of transportation also plays a significant role in the pricing of the wood product.…”