US Dollar Exchange Rates of 27th
March 2017
China Yuan 6.8729
Report from China
CORRECTION
Our correspondent in China has advised that she provided
incorrect statistics used for the overview of China¡¯s 2016
imports reported in our report, Volume 21 Number 5, 1st ¨C
15th March 2017. She extends her sincere apologies for
this error as does ITTO. The following provides an
assessment of China¡¯s 2016 imports based on more
reliable data.
Softwood dominate log imports in 2016
China¡¯s log imports in 2016 totalled 48.73 million cubic
metres valued at US$8.082 billion, a year on year increase
of 9% in volume and 0.3% in value. The average price for
imported logs was US$166 per cubic metre, a year on year
decline of 8%.
Of total log imports, 2016 softwood log imports rose 13%
to 34 million cubic metres, accounting for 70% of the
national total. The average price for imported softwood
logs was US$121 per cubic metre, down slightly on levels
in 2015.
Hardwood log imports
Hardwood log imports grew 1.6% to 14.73 million cubic
metres (30% of the national total log imports). The
average price for imported hardwood logs in 2016 was
US$270 per cubic metre, down 11% on 2015.
Of total hardwood log imports, tropical log imports were
9.1 million cubic metres valued at US$2.435 billion.
 
New Zealand and Russia main sources of logs
New Zealand was the main log supplier to China in 2016
accounting for 25% of total log imports. Imports from
New Zealand totalled 12.03 million cubic metres in 2016 a
year on year increase of 12%.
The second ranked supplier of logs was Russia at 11.16
million cubic metres, accounting for about 23% of the
national total. In 2016 a year on year increase of 5% was
recorded for log imports from Russia.
Average prices for imported logs from New Zealand rose
6%, but average prices for imported logs from Russia
declined 6% in 2016.
  Tropical
hardwood log imports
Tropical log imports in 2016 totalled 9.1 million cubic
metres up 2% year on year and accounted for 19% of the
national total. The value of tropical log imports in 2016
was US$2.435 billion reflecting a 15% decline.
Before its log export ban Myanmar was a major source of
tropical logs for China. However, China¡¯s log imports
from Myanmar in 2016 fell to just 132,700 cubic metres
valued at US$170.98 million. The average price for
imported logs from Myanmar surged in 2016 to US$1,289
per cubic metre.
The average price for imported tropical logs in 2016 was
US$267 per cubic metre, a year on year drop of 16%.
China imported tropical logs mainly from Papua New
Guinea (36%), Solomon Islands (25%), Equatorial Guinea
(12%), Cameroon (6%), Congo Brazzaville (5%) and
Nigeria (3%). Just 10 countries supplied 94% of China¡¯s
tropical log requirements in 2016.
Log imports from Ghana and Equatorial Guinea surged
121% and 65% in 2016 respectively. Countries from
which tropical log imports declined greatly included
Nigeria (-43%) and Laos (-38%).
The main port for tropical log imports in 2016 was
Nanjing Port which accounted for 87% of all tropical log
imports.
  
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