KUCHING: The United States of America (US) imports of tropical plywood from Malaysia and Vietnam have remained strong in the January-August 2024 period (8m2024).
During the period under review, US recorded a 77 per cent surge in plywood shipments from Malaysia to 60,707 cubic metres (cu m) and 80 per cent growth in shipments from Vietnam to 490,082 cu m from that of 8m2023, according to US Department of Agriculture, Foreign Trade Statistics.
US imports of plywood from Indonesia also expanded by 38 per cent to 440,233 cu m, while imports from Cambodia climbed by 20 per cent to 88,167 cu m.
“US imports of hardwood plywood dipped 4 per cent in August 2024 on declines from its three top trading partners. Imports from Russia fell 31 per cent in August while imports slipped 14 per cent from Indonesia and 7 per cent from Vietnam. The 209,888 cu m of plywood imported in August was 24 per cent less than what was imported the previous August.
“As a result, 2024 imports that were earlier greatly outpacing the previous year was now only ahead of 2023 by 8 per cent for the year so far. However, imports from Vietnam and Malaysia remain strong and are up around 80 per cent over last year’s totals through August,” said International Tropical Timber Organisation (ITTO) Tropical Timber Market Report (October 1-15, 2024).
As compared to July 2024, US imports of tropical hardwood and tropical hardwood products slowed in August, with nearly all categories seeing a decrease .
“August imports of sawn tropical hardwood fell 14 per cent from the previous month and 22 per cent below that of August 2023. Imports of hardwood plywood dropped by 4 per cent for the month to a level 24 per cent below the previous August and imports of tropical hardwood veneer retreated 22 per cent, falling 52 per cent short of August 2023 totals.
“Imports of hardwood flooring declined 20 per cent in August (2024), down 26 per cent from the previous August while imports of assembled flooring panels fell only 1 per cent from the previous month and maintained a level 34 per cent higher than that of August 2023.
“Imports of hardwood moulding also fell only marginally, losing 2 per cent but remaining a healthy 34 per cent higher than August of last year. Imports of wooden furniture slid 5 per cent but held 2 per cent higher than August 2023 totals,” said the ITTO report.
On sawn tropical hardwood, US imports fell 14 per cent in August from the previous month. The 15,106 cu m of hardwood imported was down 22 per cent from August 2023 as shipments for many types of hardwoods sank by about 25 per cent.
Imports of Balsa, Sapelli, Ipe, Mahogany, Virola,Cedro and Paduak all fell between 20-30 per cent from the previous month.
But imports of Keruing rose 54 per cent but were still 34 per cent below August 2023 and are down 47 per cent year-to-date. Imports from Brazil, the top trading nation, were down 23 per cent, falling sharply for the second straight month.
Total US imports of sawn tropical hardwood are down seven per cent so far this year from a year ago.
On tropical hardwood veneer, the report said US’s July surge in imports appeared to be a one-month blip as August figures sank back to their weak June level.
An upsurge in imports from India could not make up for sharp decline in imports from Italy, China, Ghana and Cote d’Ivoire.
Shipments from Italy remain down by nearly three quarter for the year so far while total veneer imports fell to 14 per cent below that of 2023 year-to-date.
On hardwood moulding, the report said US imports in August took a slight hit for a second straight month but continue to stay at a level well above that of 2023.
In August 2024, US Imports of wooden furniture fell five per cent as shipments from nearly all trade partners slipped. Imports from Malaysia, China and India all fell more than 10 per cent, and Mexico was the only gainer in exports to US but rose less than one per cent over July.
The US$1.74 billion worth of wooden furniture imported in August was two per cent higher than a year ago. For the year so far, US imports of wooden furniture remain ahead of 2023 by six per cent.
