US Dollar Exchange Rates of
10th
Jan
2024
China Yuan 7.33
Report from China
Decline in timber imports from Indonesia
China's wood product imports from Indonesia have been
declining since the beginning of 2024. The latest Customs
data shows that China’s timber imports from Indonesia
totalled only 63,600 cubic metres in the first 10 months of
2024, down 22% over the same period of 2023. The value
of timber imports from Indonesia was US$36.09 million in
the first 10 months of 2024, down 34% year-on-year. The
average unit price ofimported timber was US$567 per
cubic metre, down 15% over the same period of 2023.
Merbau sawnwood is one of the main commodities
imported from Indonesia. Although the average unit price
in the first 10 months was down by 6%this did not drive
the growth of Merbau sawnwood imports. Instead, Merbau
imports from Indonesia fell 36% to 26,900 cubic metres in
the first 10 months.
See:
https://baijiahao.baidu.com/s?id=1818944132620838688&wfr=s
pider&for=pc
Increase in plywood exports through Guigang City
Since the beginning of this year, Guigang City in Guangxi
Zhuang Autonomous Region has focused on economic
development and promoted the development of green
smart home and high-end panel industry clusters along
with expansion of exports.
According to the statistics from Guigang Customs, in the
first 11 months of 2024 the value of wood product exports
from Guigang was RMB180 million, an increase of 58%
compared with the same period last year. The export of
plywood and multi-layer boards was RMB140 million, up
67%. These products were exported to South Korea and
Japan.
The annual trade volume of timber from Qintang District
of Guigang City is about 12 million cubic metres, the
annual output of plywood is more than 10 million cubic
metres and the output value of the whole green home
industry chain exceeds RMB100 billion and these sell well
in Guangdong, Zhejiang and Shandong. Guangxi Zhuang
Autonomous Region is an important timber trading centre
in South China. The green home industry in Qintang
District was awarded the title, national small and medium-
sized enterprise characteristic industrial cluster.
In order to support the development of the wood industry
in Guigang City, Guigang Customs has set up a special
team for the development of the wood industry and
actively carried out door to door services to deliver
technology and advice to guide enterprises to build
hardware facilities such as production and packaging
workshops and finished products warehouses. They also
help enterprises establish quality management systems
with pest prevention and control, product traceability, raw
materials use, toxic and harmful substances control.
In the first 11 months of 2024, Guigang Customs issued a
total of 165 certificates of origin for plywood
manufacturers under the jurisdiction of Guigang City at a
value of RMB76.534 million and tariff concessions of
RMB3.827 million for enterprises.
See:
https://www.hmeonline.com/2025/73fed16cf3c643c7a1bae45da1
9e3a98.html
and
https://baijiahao.baidu.com/s?id=1819217217784083941&
wfr=spider&for=pc
Rise in log imports through Rizhao Port
Log imports through Rizhao Port have grown steadily in
recent years. Data show that in the first 10 months of 2024
Rizhao port imported 8.25 million cubic metres of logs, an
increase of 25% year-on-year. With a location advantage
and a conducive business environment wood industries
have become an important business sector in Rizhao City
creating many job opportunities.
Knock-down solid wood baby beds are the main product
of some companies in Rizhao City. These companies
import logs through Rizhao Port and export finished
products through Qingdao City.
The convenient geographical location and efficient
Customs clearance make the import and export business
very convenient in Rizhao City.
In the highly competitive maternal and child and home
furnishing market enterprises in Rizhao City have
manufactured more than 100 styles of and won a place in
the international market.
Rizhao Customs has strengthened the raw material
sourcing supervision, guided enterprises to establish a
sound quality management system and strictly monitors
the whole process from raw material procurement,
production and processing to finished product inspection.
At the same time, inspection and testing services of
products to international standards and the requirements of
importing countries are provided.
In addition, Rizhao Customs collects and delivers
feedback and technical trade measures in foreign markets
to help enterprises understand the international market
dynamics and technological development trends.
According to the statistics from Rizhao Customs, in the
first 10 months of 2024 the value of exported furniture and
parts through Rizhao Port were RMB740 million, surging
from the same period of 2023.
See:
https://www.rznews.cn/viscms/rizhaoxinwen0271/20241127/561
930.html
Guigang City timber distribution centre
Guigang City has focused on supporting wood processing
industries as one of the five industrial clusters with the
scale of RMB100 billion and concentrated resource
elements to promote major forestry projects.
The output value of wood processing industry in Guigang
City has ranked first in Guangxi Zhuang Autonomous
Region in recent years and has become the most important
wood-based panel processing base in southern China and
an important timber collection and distribution center in
the region.
From January to November 2024, among enterprises with
annual main business income of RMB20 million or above
in Guigang city, the total industrial output value of wood
processing and wood, bamboo, rattan, palm and grass
products industries reached RMB45.98 billion, an increase
of 14% over the same period of 2023.
There are 716 wood processing enterprises with annual
main business income of RMB20 million or above and
140 wood processing enterprises with an output value of
more than RMB100 million.Up to now, there are more
than 4,000 wood processing enterprises in Guigang City
and products include more than 130 varieties in 9 series
including wood flooring, decorative boards, particleboard
as well as decorative paper and custom furniture.
See:
https://www.wood365.cn/Industry/IndustryInfo_281704.html
China and Vietnam wood product supply chain
A seminar on ‘Developing a Sustainable Supply Chain for
Wood and Wood Products between Vietnam and China’
was held recently by the Vietnam Wood and Forest
Products Association (VIFOREST) and the China
National Forest Products Industry Association (CNFPIA).
It was agreed that China and Vietnam need to cooperate to
promote the green transformation of wood processing
industries. This will be the basis for the creation of a
sustainable timber supply chain, creating high
competitiveness in the global market. Specifically, it is
necessary to cooperate with the improvement of
environmental standards for pollutant emission in the
wood-based panel industry, encourage the development,
application and promotion of new environmentally
friendly adhesives and increase the proportion of low
formaldehyde and no formaldehyde woodworking
products.
China is a major consumer market for Vietnam’s wood
chips and China supplies a large amount of wood panels to
Vietnam. Therefore, enterprises and timber associations of
the two countries need to strengthen cooperation on the
basis of mutual benefit.
China is Vietnam's largest timber suppier and a major
investor in the country's timber processing industry.
Vietnam’s imports of wood and wood products from
China showed an increasing trend between 2015 and 2023
up to US$760 million from US$258 million, an average
annual growth rate of 22%.
In the first 11 months of 2024 Vietnam’s imports of wood
and wood products from China reached US$983 million,
an increase of 44% over the same period in 2023.
China is Vietnam's largest supplier of wood and wood
products accounting for about 40% of the national total
imports. Chairs accounted for 18% of imoports, wooden
furniture accounted for 17%, veneer/rotary board
accounted for 33%, plywood accounted for 23% and
fiberboard 9%.
In terms of exports, Vietnam's exports of wood and wood
products to China have been increasing in recent years,
US$1.2 billion in 2020, US$1.489 billion in 2021,
US$1.71 billion in 2022 and US$1.72 billion in 2023.They
are expected to have reached US$1.88 billion in 2024.
The structure of wood products export value to China is
that wood chips accounted for 83%, veneer accounted for
9%, wooden furniture 2% and the balance was 6%.
With the active promotion and support of railway
authorities in both countries more and more companies are
choosing to shorten transportation time, simplify
procedures and reduce costs through freight train services.
To further enhance transport capacity between the two
countries the relevant departments of the Vietnamese
government have drawn up plans to further invest in
improving railway infrastructure to achieve seamless
connectivity with Chinese railways.
See:
https://www.wood365.cn/Industry/IndustryInfo_281659.html
and
https://baijiahao.baidu.com/s?id=1820192130296114346&wfr=s
pider&for=pc
Global Timber Index report
According to data released by China's Ministry of
Commerce, as of November the country had subsidised
10.38 million pieces of products associated domestic
consumption for kitchen and bathroom renovations and
8.2 million pieces of furniture and home furnishing
products for domestic consumption.
The latest report from China’s National Bureau of
Statistics shows that in October total retail sales of
furniture in China reached 15.2 billion yuan, representing
a 7.4% year-on-year increase.
On 15 November the first working meeting for the
revision of the country’s national standard "Chinese Main
Wood Names" was held. The standard, after revision, will
further align with international and domestic markets to
meet the needs of Chinese timber trade.
In November, the GTI-China index registered 49.7%, a
decrease of 1.2 percentage points from the previous month
and was below the critical value (50%) after 2 months
indicating that the business prosperity of the timber
enterprises represented by the GTI-China index declined
from the previous month.
Despite a slight slowdown in China's wood processing
industry in November the volume of export orders
increased compared to the previous month. As for the
eleven sub-indices, five indices (export orders, existing
orders, purchase price, inventory of main raw materials
and delivery time) were above the critical value of
50%.The new orders index was at the critical value while
the remaining five indices (production, inventory of
finished products, purchase quantity, import, and
employees) were all below the critical value.
Compared to the previous month the indices for export
orders, existing orders, inventory of finished products,
import, purchase price, inventory of main raw materials,
employees and delivery time increased by 0.6-5.3
percentage point (s) and the indices for production, new
orders and purchase quantity declined by 1.2-8.4
percentage points.
See, https://www.itto-
ggsc.org/static/upload/file/20241217/1734418549204401.pdf
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