Page 7 - FDMASIA JanFeb 2024
P. 7
MARkET Beats 5
Market Beats
www.fdmasia.com | FDM AsiA Jan/Feb 2024
USAID U.S. Agency for International Development
Current Situation And cubic meters. The steep decline so far in 2023 maintains a
roller coaster of trends evident in recent years. Shipments
Prospect For Hardwood jumped 29 percent in 2018 compared to the previous year,
Market then plummeted during the pandemic years, falling to a
multi-year low in 2021 before rebounding strongly last year.
US hardwood lumber exports fall in 2023 Exports to China, by far the largest overseas market for U.S.
US foreign trade of hardwood lumber has declined sharply in hardwoods, slipped to 696,063 cubic metres through August,
2023. Exporters have struggled to compete on price against trailing the year-ago eight-month volume by 10 percent. Shipments
alternative species in most offshore markets this year. Meanwhile, to China are on pace to decline for a third consecutive year
fading demand in the US has impeded imports, traders say. after peaking in 2020 at 1.25 million cubic metres.
Hardwood lumber exports to offshore destinations fell to Sales to other Pacifc Rim destinations fell at a steeper
1.56 million cubic meters through August, down 21 percent rate compared to the decline in China. Shipments to Vietnam
from the frst eight months of 2022. At the current pace, exports decreased 23 percent to 224,743 cubic metres. Exports to
will decline to the lowest volume since 2011, according to smaller markets in the region such as Indonesia, Thailand,
statistics from the US Foreign Agricultural Service. South Korea, and Malaysia plunged between 44-54 percent.
Imports plunged 32 percent through August to 241,436 The downward trend was equally evident in Europe. Exports
Market Beats
www.fdmasia.com | FDM AsiA Jan/Feb 2024
USAID U.S. Agency for International Development
Current Situation And cubic meters. The steep decline so far in 2023 maintains a
roller coaster of trends evident in recent years. Shipments
Prospect For Hardwood jumped 29 percent in 2018 compared to the previous year,
Market then plummeted during the pandemic years, falling to a
multi-year low in 2021 before rebounding strongly last year.
US hardwood lumber exports fall in 2023 Exports to China, by far the largest overseas market for U.S.
US foreign trade of hardwood lumber has declined sharply in hardwoods, slipped to 696,063 cubic metres through August,
2023. Exporters have struggled to compete on price against trailing the year-ago eight-month volume by 10 percent. Shipments
alternative species in most offshore markets this year. Meanwhile, to China are on pace to decline for a third consecutive year
fading demand in the US has impeded imports, traders say. after peaking in 2020 at 1.25 million cubic metres.
Hardwood lumber exports to offshore destinations fell to Sales to other Pacifc Rim destinations fell at a steeper
1.56 million cubic meters through August, down 21 percent rate compared to the decline in China. Shipments to Vietnam
from the frst eight months of 2022. At the current pace, exports decreased 23 percent to 224,743 cubic metres. Exports to
will decline to the lowest volume since 2011, according to smaller markets in the region such as Indonesia, Thailand,
statistics from the US Foreign Agricultural Service. South Korea, and Malaysia plunged between 44-54 percent.
Imports plunged 32 percent through August to 241,436 The downward trend was equally evident in Europe. Exports
