KUCHING: Japan’s wooden office furniture import value has surged by a massive 56 per cent to RM6.88 million in August 2023 from the unusually low value in the previous month of July.
In August, shippers in China and Malaysia dominated imports accounting for 44 per cent (RM3.84 million) and 37 per cent (RM2.21 million) respectively of total imports of wooden office furniture (HS940330), according to data from Japan Finance Ministry.
For the first time, shippers in Turkey shipped sufficient for the country to enter the top 20 shippers but at just four per cent of Japan’s total imports for the month as shown by the data quoted in International Tropical Timber Organisation (ITTO) Tropical Timber Market Report (Oct 16-30, 2023).
“Year on year, the value of August 2023 imports of wooden office furniture was down 14% but compared to the value of July imports, there was a slight increase. The diversification of sources of wooden office furniture observed in July appears to have been maintained into August,” said the report.
On wooden bedroom furniture (HS940350), the report said imports into Japan were worth more than all other categories of wooden furniture and the value of imports has consistently been higher than all others.
However, over the past five months, the value of wooden bedroom furniture had steadily declined and in August, the value of imports dropped closer to the value of wooden kitchen furniture and furniture parts. Since April this year, there had been a steady reduction in the import value of the product.
“China and Vietnam were the main suppliers of wooden bedroom furniture in August, together accounting for over 90% of imports of this category of wooden furniture. August imports from China (RM42 million) were at around the same level as in July but there was a drop in the value of imports from Vietnam (RM21.47 million).
“The decline in the value of imports from these two main shippers disguises advances made in the market share by some other shippers such as Malaysia (RM1.82 million) and some EU member states. Having achieved a significant market share in July (around 7%), Malaysia’s share of August arrivals dropped to around 4%,” said the ITTO report.
On wooden furniture parts (HS940391), the report said since third quarter of 2022, there had been a steady decline in the value of Japan’s imports. Year on year, the value of August wooden furniture parts imports dropped 21% and there was an 8% decline compared to the value of July imports.
The top suppliers in August were, as in previous months, China (43% worth RM24 million), Indonesia (22% worth RM12.1 million), Vietnam (12% up from 7% in July to RM6.47 million) and Malaysia (10% worth RM5.74 million).
In August, Japan paid about RM48.8 million for the imports of kitchen furniture (HS940340). The Philippines and Vietnam together accounted for over 80 per cent of the value of Japan’s import, with their shipments worth RM21.4 million (44%) and RM18.1 million (37%) respectively.
Besides the Philippines and Vietnam, the other two main suppliers China and EU all recorded a rise in their exports to Japan.
Malaysia is a small supplier of kitchen furniture to Japan which was worth RM761,897 in August.
Meanwhile, the Japan Lumber Reports (JLR) said as manufacturers in Japan do not have enough South Sea (tropical) logs, the trading companies imported 8,797 cubic metres in August by containers in a hurry.
“The import cost is rising due to the weak yen against the (US) dollar,” it added in its latest report reproduced by ITTO.
On laminated board in South East Asia, the JLR said the price has been falling as SEA sellers did not lower the price because demand in Japan was low.
“Since demand in China is sluggish, so the South East Asian sellers lowered the price, which is similar to the price of Indonesian Markus pine lumber. Distributors did not buy new laminated boards because of low demand and the weak yen in Japan.”
