US Dollar Exchange Rates of
10th
Feb
2024
China Yuan 7.18
Report from China
Decline in log imports in 2023
China Customs data shows log imports in 2023 totalled
38.03 million cubic metres valued at US$6.383 billion, a
decline of 13% in volume and 25% in value year on year.
The average price for imported logs was US$168 (CIF)
per cubic metre, down 14% on 2022 levels.
Of total log imports in 2023, softwood log imports fell
10% to 28.1 million cubic metres, accounting for 74% of the national total,
up 3% percentage points from 2022. The average price for imported softwood
logs was US$134 (CIF) per cubic metre, down 16% on 2022.
Hardwood log imports in 2023 declined 20% to 9.93
million cubic metres (26% of the national total log imports). The average
price for imported hardwood logs in 2023 was US$264 (CIF) per cubic metre,
down 7% on 2022 .
Of total hardwood log imports, tropical log imports were
5.71 million cubic metres valued at US$1.516 billion, down 8% in volume and
down 19% in value from 2022 and accounted for 15% of the national total
import volume in 2023. The average price for tropical logs imports in 2023
was US$265 (CIF) per cubic metre, down 12% on 2022 level.
Large decline in log imports from Germany and Russia
The volume of log imports from Germany and Russia in
2023 declined sharply, dropping 40% and 27% year on
year to 3.59 million cubic metres and 1.61 million cubic
metres respectively. These declines were the main reason
for the overall decline in log imports in 2023.
New Zealand was, once again, the top supplier of logs to
China in 2023 accounting for 47% of the national total, up
6 percentage points from 2022. China’s log imports from
New Zealand reached almost 18 million cubic metres
valued at US$2.209 billion, up 2% in volume but down
18% in value, year on year. The average price for
imported logs from New Zealand was US$123 (CIF) per
cubic metre, down 19% on 2022 levels.
Germany ranked second for log imports to China in 2023
making up 9% of the national total, down 5 percentage
points from 2022. China’s log imports from Germany
reached 3.3 million cubic metres valued at US$576
million, down 40% in volume and 44% in value, year on
year. The average price for imported logs from Germany
was US$160 (CIF) per cubic metre, down 7% on 2022
level.
Increase in softwood log imports from Japan and
Poland
China’s log imports from Japan and Poland rose
respectively 26% and 106% year on year to 1.41 million
cubic metres and 1.11 million cubic metres in 2023. The
average price for imported logs from Japan and Poland
was US$120 (CIF) per cubic metre and US$151 (CIF) per
cubic metre, down 20% and 10% on 2022 levels. Nearly
100% of China’s log imports from Japan and Poland in
2023 were softwood logs.
Japan's log exports to China are on the rise and one
enduse
for some of these imported logs is the manufacture coffins.
China's Cao County in Shandong Province has a virtual
monopoly in the production of coffins from milled
Japanese logs. Coffins produced in Cao County account
for around 90% the coffins shipped to Japan.
The wood processing industry in Caoxian County has a
good future and the annual output from wood processing
reached around RMB50 billion in 2023.
Log exports from Poland began after the decision of the
Polish State Forest Service in 2017 to lift the log export
controls. After severer storms in Poland in 2017 the Polish
authorities were unable to properly dispose of nearly 10
million cubic metres of wind blown forests so sought
export markets.
Steep drop in hardwood log imports
Hardwood log imports in 2023 fell 20% to 9.926 million
cubic metres (26% of the national total log imports). PNG
was the largest supplier of hardwood logs to China in
2023. China’s hardwood log imports from PNG fell 3% to
2.268 million cubic metres valued at US$483 million,
down 12% year on year. The average CIF price for
hardwood log imports from PNG in 2023 fell 9%
compared to levels in on 2022.
China’s hardwood log imports from Russia were 1.613
million cubic metres valued at US$197 million, down 24%
in both volume and in value in 2023. The average CIF
price for hardwood logs from Russia fell 1%.
Over 60% of the national total log imports are from four
countries, namely PNG (23%), Russia (16%), Solomon Is.
(15%) and USA (8%).
China’s hardwood log imports from the US declined by
7% year on year in 2023 to 781,000 cubic metres valued at
US$444 million, down 4% on 2022. China’s hardwood log
imports from Brazil, France and Germany dropped 50%,
40% and 16% respectively.
Decline in tropical log imports in 2023
Of total hardwood log imports, tropical log imports were
5.713 million cubic metres valued at US$1.516 billion,
down 8% in volume and 19% in value from 2022,
accounting for 15% of the national total import volume in
2023. The average price for imported tropical logs was
US$265 CIF per cubic metre, down 12% on the 2022
average.
PNG and Solomon Is. were the main suppliers of tropical
logs to China accounting for around 66% of all tropical
log imports in 2023. China’s tropical hardwood log
imports from PNG fell 3% but from Solomon rose 3% in
2023.
Decline in China’s log imports from Myanmar
Myanmar was a major source of tropical logs for China
but log imports from Myanmar have been declining for
many years. China’s log imports from Myanmar fell to
3,371 cubic metres valued at US$3.75 million in 2023.
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