US Dollar Exchange Rates of 30th
September 2011
China Yuan 6.3976
Report from China
Chinese importers brace for Lithuanian export duty on
logs
The Lithuania Western Timber Enterprises Association
has forecast that Lithuanian log exports will reach 2.5
million cubic metres in 2011. Of this total, 1.5 million
cubic metres will be exported to Asia with most going to
China.
In the past China imported large quantities of logs from
Russia but this has changed due to the imposition of high
export tariffs on log exports from Russia.
Timber traders in China have been importing logs from
Lithuania as they are cheaper than those from Russia
because there is no export duty applied. However the
increasing demand from China has pushed up log prices to
such an extent that domestic mills in Lithuania cannot
compete.
News reports say that Imedeksa, one of Lithuania timber
processing companies, is of the opinion that some
Lithuanian timber processing companies will face the risk
of bankruptcy if the Lithuanian government does not act to
impose an export tariff on logs.
Many Lithuanian timber processing companies signed a
letter to the government asking that the risks to domestic
manufacturers be addressed. However, the imposition of
an export duty by Lithuania may first have to be approved
by the EU says an analyst.
Guangxi quick to develop plans for strategic timber reserve
The Guangxi Forestry Department has just completed a
plan for establishing, what it terms, a national timber
strategic reserve. Reports suggest that within 10 years the
province will establish plantations over an area of 3.3
million hectares.
At full production this area would produce around 70
million cubic metres annually and could meet about 20%
of the domestic timber supply shortfall.
China is not rich in timber resources and has to import
over 40% of its timber needs to meet domestic demand.
Analysts say the rate of growth in demand is around 15%
annually due to the rapid economic development.
In order to guarantee timber security the country is
actively pursuing a national timber strategic reserve aimed
at increasing domestic timber supply capacity.
The State Forestry Administration (SFA) recently
announced ¡®The compilation of the planning of national
timber strategic reserve¡¯. The SFA has requested 25
provinces and 4 forest industry groups to prepare plans for
this strategic timber reserve.
According to the Guangxi forestry plan, the forest cover of
the Province will increase by 2.6 percent when the plan is
implemented. The net increase of forest volume is
expected to be around 200 million cubic metres (around
8% of the national total).
Ganzhou furniture exports top 100 million dollars
During the first eight months of this year furniture exports
by manufacturers in the region of Ganzhou City, Jiangxi
Province almost doubled to US$102 million making up
about 32% of the total exports from the province.
In the first eight months of 2011, furniture exports by
foreign enterprises based in Ganzhou city doubled
compared to levels in 2010 and accounted for most of the
increased exports.
The largest single factor behind this performance was the
increase in exports to ASEAN countries following the
latest round of trade deals between China and ASEAN.
Exports to the US and the EU also rose significantly.
APEC offered a 3 point forestry plan by Chinese President
President Hu Jintao said that China aims to increase its
total area of forest by 40 million hectares in the next
decade and that China will continue to accelerate the pace
of forestry development.
The Chinese President outlined a three-point plan for
sustainable and green growth.
In addressing an APEC meeting the President said APEC
members should strengthen forestry cooperation by
integrating forestry development with economic and social
development aims.
President Hu also said APEC members should balance
economic development, environmental protection,
industrial growth and ecologic issues by tapping into the
various beneficial functions of forests.
At the summit APEC members were asked to deepen
regional forestry cooperation through high-level dialogue
on policy coordination and technological cooperation and
the elimination of trade barriers.
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