US and Canada Timber and Wood Product Price and Market Report
01 – 15th Aug 2023

Report from North America

 US and Canadian sawn tropical hardwood imports rebound
US imports of sawn tropical hardwood were at their highest of the year so far in June as imports rose 14% from the previous month. The 17,832 cubic metres imported in June was down 25% from June 2022 volume, but that was an improvement over most months so far this year.

Imports from Malaysia more than doubled in June and are ahead of last year by 9% over the first half of the year. Imports from all other major supplying countries were down this year, however June gains in imports from Congo/Brazzaville (up 64%), Cameroon (up 60%), Ecuador (up 44%) and Ghana (up 37%) all helped reduce their deficits.

Imports of Keruing remain strong, growing 91% in June and up 24% over last year through the first half of the year. However, imports of Ipe remain weak, falling 38% in June and down 60% over the first half of the year. Overall imports are down 39% versus last year through June.

Canada saw an even stronger surge as imports of sawn tropical hardwood grew by 78% in June following two months of decline. While imports from Brazil, Cameroon, Ghana and Indonesia all rose sharply for the month, June imports still lagged June 2022 totals by 29%. Through the first half of 2023, total imports are down 18% versus last year.

Hardwood plywood imports gain volume, because of Spain
The volume of US imports of hardwood plywood rose for a fourth consecutive month in June but declined in value. The 257,480 cubic metres of plywood imported last month was 18% higher than May, but more than 100,000 cubic metres of that plywood came from Spain. Otherwise, imports were mixed with imports from top-supplier (Vietnam) up 34%, while imports from Indonesia were down 19% and imports from Russia fell 38%. Total imports through the first half of 2023 were down in volume by 52% versus 2022 through the first half of the year.

Veneer imports plunge
US imports of tropical hardwood veneer fell sharply in June, declining 48% from the previous month and 48% from that of a year ago. Imports from Cameroon, which had been strong all year, fell by 57% in June, while imports from India and Italy both fell more than 90%.

Strong gains in imports from Cote d’Ivoire (up 99%) and Ghana (up 82%) made up some of the loss. Despite the weak month, imports of tropical hardwood veneer remain ahead of 2023 imports by 6% through the first half of the year.

See; https://apps.fas.usda.gov/gats/default.aspx

Hardwood flooring imports off 3%
US imports of hardwood flooring fell 15% in June, declining for a second consecutive month. Imports in June were 3.5% lower than those of last June. Imports from Brazil fell sharply again, dropping 60% in June to their lowest level since March 2020.

For the year to June imports from Brazil are down 59% versus last year. Imports from China are also down more than 50% this year after falling 15% in June. However, imports from Indonesia remain strong—growing 15% in June and more than doubling last year’s total through the first half of the year. Total imports of hardwood flooring are ahead of last year by 6% through June.

Imports of assembled flooring panels grew 12% in June, rising for the third consecutive month. Imports from top suppliers Canada and Vietnam both grew by nearly one third, while imports from Indonesia and Thailand were down 47% and 29%, respectively. Total imports of assembled flooring panels are down 40% versus last year through the first half of the year.
See: https://apps.fas.usda.gov/gats/default.aspx

Moulding imports disappoint
US imports of hardwood mouldings followed their strongest month of 2023 with their worst month so far in June. Imports fell 38% in June to a level less than half that of June 2022. Imports from Brazil and China both dropped more than 50%, while imports from Canada fell 19%. Total imports through the first half of the year are down 34% versus last year.

See: https://apps.fas.usda.gov/gats/default.aspx

Wooden furniture imports edge down
US imports of wooden furniture fell 3% in June as imports from most countries remained relatively flat. Imports from Indonesia were the exception, falling 30% for the month, while imports from Mexico fell 8%. Furniture imports for the year continue to trail the record numbers of last year. June imports were 28% less than those of the previous June while totals through the first half of this year are down 29% versus last year.

Cabinet sales rise
According to the Kitchen Cabinet Manufacturer's Association's (KCMA) monthly Trend of Business Survey, participating cabinet manufacturers reported an increase in sales of 4.5% in June. Sales were down by 3% for June 2023 compared to the same month in 2022.

The survey reported that compared with the previous month custom sales were up 6.6%, semi-custom sales were up 4.9% and stock sales were down 0.2%. Compared with June 2022, custom sales were up 5.2%, semi-custom sales were down 0.1% and stock sales were down 21.1%.

See: https://kcma.org/insights

Abbreviations

LM       Loyale Merchant, a grade of log parcel	Cu.m         Cubic Metre
QS        Qualite Superieure	Koku         0.278 Cu.m or 120BF
CI          Choix Industriel	FFR           French Franc
CE         Choix Economique	SQ              Sawmill Quality
CS         Choix Supplimentaire	SSQ            Select Sawmill Quality
FOB      Free-on-Board	FAS            Sawnwood Grade First and
KD        Kiln Dry	Second
AD        Air Dry	WBP           Water and Boil Proof
Boule    A Log Sawn Through and Through	MR              Moisture Resistant
the boards from one log are bundled	pc         per piece
together	ea                each
BB/CC  Grade B faced and Grade C backed	MBF           1000 Board Feet
Plywood	MDF           Medium Density Fibreboard
BF        Board Foot	F.CFA         CFA Franc
Sq.Ft     Square Foot	Price has moved up or down