In the first half of 2022, the landed price of imported timber from most suppliers, with the exception of Thailand, was rising. In the first half of this year, the price of timber imported from Thailand alone fell by 8% to $250 per cubic meter. The cifed prices of timber imported from Russia, Canada, the United States and Finland rose by 18%, 27%, 27% and 18% respectively. Other countries where prices have risen include Germany, Sweden, Belarus and Ukraine.
The reason for the increase in FOB prices
The main reasons for the increase in FOB prices include the impact of production cuts in timber-supplying countries, logistics disruptions caused by the pandemic, container shortages, and inflation in some countries.
The decrease in timber exports from countries including Ukraine, Brazil and Chile is the main reason for the decline in timber exports to China.
Among them, Russia and Ukraine were affected by the Russian-Ukrainian incident, and the amount of logging declined. In the first half of this year, Russian imports of softwood sawn timber fell by 8% to 5.542 million m³. Ukraine's imports of softwood sawn timber fell 72% to 153,000 m³.
South American cork exports decreased significantly, with Brazil and Chile falling by -64% and -36% respectively.
Exports of cork to China among European countries increased, mainly due to the decline in supply in New Zealand. Among them, Sweden increased by 29% to 282,000 m³, becoming the largest exporter of softwood sawn timber to China.
In addition, due to the large fluctuations in wood prices in North America in the first half of the year, inflation and shortages, Canada and the United States of America's softwood sawn timber exports decreased by -9% and -16% respectively.
There have been changes in timber imports
In the first half of the year, the number of mahogany imports from Southeast Asia decreased significantly, especially due to the decline in mahogany exports from Myanmar and Vietnam. In the same period, the import of mahogany from Thailand was only 1874 m³. Rubberwood became the largest type of wood imported from Thailand in the first half of the year.
Among them, tropical sawn timber generally increased significantly. Only a few countries have seen a decrease, such as the Republic of the Congo, whose imports have fallen by -8% to 30,000 m³.
- Laos imports increased by 24% to 37,000 m³;
- Malaysia's imports increased by 17% to 59,000 m³;
- Philippine imports increased by 14% to 317,000 m³;
- Thai imports increased by 13% to 2 million m³;
- Gabon's imports increased by 11% to 298,000 m³;
- Cameroon's imports rose 11% to 64,000 m³;
Augustan, Shabilee and other onshore prices
From the log point of view, the O'Guman cif price continued to grow in July, from $313 per cubic meter in June to $344, but from the African market, the impact of Oguman on the mainland due to the large stock in Gabon and the expected increase in cameroon's logging volume may not be reflected until the fourth quarter.
In addition, the cif price of African teak fell to $551 from $624 per cube in June.
From hardwood sawn timber, the c.i.e. sapili price fell to $547 per cubic meter from $571 per cubic meter in June, and eucalyptus rose significantly, from $279 per cubic meter in June to $552.
In addition, oak sawn timber increased by $106 per cubic meter and African peach hearts fell by $45 per cubic meter.