US Dollar Exchange Rates of
10th
Oct
2023
China Yuan 7.30
Report from China
Dramatic
decline in birch log imports
According to China Customs, birch log imports fell
sharply in the first eight months of 2023 and were 971,231
cubic metres valued at US$130.73 million, down 33% in
volume and 36% in value over the same period of 2022.
The average CIF price for China’s birch log imports fell
5% to US$135 per cubic metre.
The top suppliers of birch log imports were Russia and
Latvia. 95% of China’s birch logs were imported from
Russia and some was imported from Latvia in the first
eight months of 2023. In addition, China imported small
volumes of birch logs from Estonia, USA, Belgium and
Canada.
China’s birch log imports from Russia were 922,131 cubic
metres valued at US$118.6 million in the first eight
months of 2023, down 27% in volume and 28% in value
compared to the same period of 2022. The CIF price for
China’s birch log imports from Russia fell 1% to US$129
per cubic metre.
China’s birch log imports from Latvia amounted to 48,064
cubic metres valued at US$11.7 million in the first eight
months of 2023, down 73% in volume and 69% in value
compared to the same period of 2022. The CIF price for
China’s birch log imports from Latvia rose 14% to
US$243 per cubic metre.
Russia's increase in the export tax on birch log exports has
put pressure on Chinese enterprises and this is why
imports have declined to a record low.
Rise in birch sawnwood imports
In contrast to log imports, birch sawnwood imports
increased in the first eight months of 2023 and were
475,863 cubic metres valued at US$98.79 million, up 10%
in volume and 3% in value over the same period of 2022.
The average CIF price for China’s birch sawnwood
imports fell 6% to US$208 per cubic metre.
The rise in the export tax rate of Russian birch logs has
prompted enterprises to process birch logs into sawnwood
in Russia and export sawnwood to China. The largest
supplier of China’s birch log imports is Russia. In addition
to imports from Russia, China imported small quantities of
birch sawnwood from Estonia, Belarus, Latvia and
Finland.
Surge in particleboard imports from Thailand
According to China Customs, in the first half of 2023
China’s particleboard imports fell 26% to 318,000 tonnes
valued at US$142 million, down 41% over the same
period of 2022.
Thailand was the largest supplier for China’s particleboard
imports and they surged 56% to 123,000 tonnes however,
imports from other suppliers fell. The dramatic increase in
China's particleboard imports from Thailand was mainly
due to the fact that Chinese enterprises have set up
factories in Thailand and a large amount of particleboard
produced is exported to China.
Decline in particleboard exports
China’s Customs data shows that in the first half of 2023
particleboard exports fell 4% to 188,000 tonnes valued at
US$143 million, down 34% over the same period of 2022.
Taiwan P.o.C was the largest destination for China’s
particleboard exports and in the first half of 2023 exports
to Taiwan P.o.C rose 24% to 42,000 tonnes. China’s
particleboard exports to Saudi Arabia, Chile, Malaysia and
Indonesia grew 71%, 98%, 48% and 8% compared to the
same period of 2022.
However, the USA is no longer the largest market for
China’s particleboard exports having dropped 23% in the
first half of 2023. China’s particleboard exports to the
USA fell 51% to 10,352 tonnes in 2022.
Sharp decline in fiberboard imports
According to China Customs, in the first half of 2023
China’s fiberboard imports fell 67% to 19,000 tonnes
valued at US$18 million, down 68% over the same period
of 2022. Fiberboard imports from all top suppliers; New
Zealand, Thailand, Germany and Belgium fell at even
greater rates in the first half of 2023.
 
Decline in fibreboard exports
In the first half of 2023 China’s fibreboard exports fell 4%
to 1.009 million tonnes valued at US$558 million, down
14% over the same period of 2022. Nigeria was the largest
export market for China’s fibreboard in the first half of
2023 but exports to Nigeria decreased 15% to 129,000
tonnes.
China’s fibreboard exports to Mexico, Saudi Arabia, UK,
Algeria and Russia grew 35%, 6%, 101%, 69% and 55%
respectively compared to the same period of 2022.
The USA is no longest market for China’s fibreboard
exports having fallen 47% in the first half of 2023. China’s
fibreboard exports to the USA in 2022 rose 19% to
187,392 tonnes due to strong demand.
 
In the first half of 2023 there was an overall decline in
imports and exports of panel products. There are two main
reasons for this, first China's woodbased panel production
capacity has increased so China no longer needs to import
woodbased panels and second, China has implemented a
rural revitalisation strategy shifting the focus of marketing
to rural consumption not exports.
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