KUCHING: The United States of America has considerably reduced the imports of tropical hardwood plywood from Malaysia and Indonesia as it shifted to buy more from Vietnam and China in June 2022.
US imports from Malaysia and Indonesia both plunged more than 40 per cent as the world’s largest economy’s overall imports of hardwood plywood fell for a third straight month, declining by nine per cent in June.
“The 296,900 cubic metres imported was the lowest volume month of the year and was 2.3 per cent less than the previous June. Imports from Russia continued their decline, plunging 51 per cent in June to their lowest level since February 2013,” according to International Tropical Timber Organisation (ITTO) Tropical Timber Market Report (August 1-15, 2022).
The report said US plywood imports from Vietnam and China rebounded strongly in June from poor volume in May 2022.
In the first six months of 2022, US overall imports of hardwood plywood was up 41 per cent from the same period in 2021, with most of the supplying countries showed larger gains.
On sawn tropical hardwood imports by US, these slipped by 12 per cent in June 2022 as volumes retreated from a near record high.
The 24,229 cu m imported for the month under review was the second lowest total of the year so far.
Imports of Keruing and Mahogany fell by 22 per cent while imports of Sapelli and Ipe decreased by seven per cent and 16 per cent respectively.
Imports of lower-volume woods, like Meranti, Iroko and Padauk were all down more than 50 per cent.
“Imports from Indonesia and Cameroon both decreased by more than one-third while imports from Malaysia were off 14 per cent. Imports from Congo (Brazzaville) gained 43 per cent in June, rising to their best month of the year along with imports from Ghana which improved by 140 per cent.
“Despite the dip, total imports of sawn tropical hardwood remain up 211 per cent so far this year. However, changes made this year by the US government in how it classifies tropical hardwoods make direct comparison with last year difficult.”
The ITTO report said Canada raised its imports of sawn tropical hardwood for the fifth straight month in June, and the more than US$2.5 million imported for the month was the highest total since August 2014. Overall imports are up 40 per cent in first half of 2022.
On US hardwood flooring imports in June, the US Census Bureau figures showed that this declined 21 per cent due to a steep drop in imports from lower-volume supply countries, such as Vietnam, and a seven per cent drop in shipment from Malaysia.
“Imports from the top US trading partners either stayed level (Brazil down less than 1 per cent) or improved (Indonesia up 70 per cent and China up 10 per cent).
Total imports are ahead of last year by 14 per cent through the first half of 2022.
“Imports of assembled flooring panels gained 6 per cent in June. Imports from Brazil more than doubled while imports from Indonesia grew by 70 per cent. This was offset to some degree by declines of around 20 per cent in imports from China and Thailand.
“Total imports of assembled flooring panels are up 57 per cent through the first half of 2022 as imports from Brazil are more than double that of 2021 so far and imports from Thailand are up more than four-folds,” it added.
On hardwood mouldings, US imports rose a modest two per cent in June 2022.
Imports from Brazil and China rose sharply to rebound from weak May numbers.
But imports from top supplier Canada did just the opposite, falling 15 per cent, continuing an up and down pattern seen all year.
“Despite the volatility by countries each month, imports are up sharply among all suppliers year to date. Through the first half of the year, total imports are ahead by 38 per cent over 2021, with imports from Brazil up 86 per cent, China up 54 per cent and Canada up 36 per cent. “
US imports of tropical hardwood veneer increased by eight per cent in June and 31 per cent in first half of 2022.
On wooden furniture imports by US, the report said after setting an all-time record in May, shipments from supplier countries fell by seven per cent in June.
Despite the retreat, the US$2.33 billion of furniture products imported was more than five per cent higher than the previous June and amongst the strongest months ever.
