USA: Hardwood log exports to China and Europe on the rise August 29, 2006
Hardwood log exports increased 3.1% in the 1st semester 2006 to 350.5 million USD while the volume of exports declined 9.3% to 1.2 million MBF. The increase in average value of exports is largely linked to a strong increase of the average value of logs sold to Canada. Exports to Canada declined 14.2% to 97 million MBF while volume declined 21.6% to 685.000 MBF. The decline in exports to Canada is explained by a relative decline of the competitiveness of Canadian sawmills due to the increase in the CAD value relative to USD.
Exports to China increased 16.1% to 73.5 million (volume increased 22% to 151.300 MBF). The exports to China increased on the back of a growth in exports of cherry (+30% to 14 million USD & +26% to 11.300 MBF), yellow poplar (+16.7% to 11.3 million USD & +20% to 40.000 MBF), white oak (+68.5% to 5.6 million USD & +11.700 MBF), walnut (+8% to 18.5 million USD & +24.5% to 28.000 MBF) and red oak (+13.1% to 12.7 million USD & +20.6% to 27.400 MBF). Exports to HK increased 24.7% to 22 million USD and 13% to 36.500 MBF. The relative decline in value of exports to China is explained by the growing importance of the Chinese flooring industry in imports.
Exports to Italy (+13.5% to 21.8 million USD & +18% to 64.600 MBF) are also on the rise. In Italy, imports of white oak (+32,7% to 3,0 million US$) and walnut logs (+40,3% to 7,0 million USD & +43,8% to 17.000 MBF) rose while imports of cherry and poplar declined strongly. Italy is now the 2nd largest export market for US walnut logs after China.
Exports to Spain increased 49% to 15.3 million USD & 49% to 27.400 MBF pulled by a strong demand for white oak logs (+44% to 10.9 million USD & +42.8% to 21.300 MBF) and an increase of exports of cherry logs.
Exports to Japan (+39.2% to 18.1 million USD and +33.6% to 48.500 MBF) are also on the rise.
The strong demand for walnut worlwide is explained by the trend towards darker veneers in the furniture industry.
