US tropical hardwood imports held steady in October

Source:
ITTO/Fordaq
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Imports of sawn tropical hardwood rose only 2% in October as imports for 2020 continue to lag far below those of 2019. The 13,491 cubic metres imported was more than 38% below the volume imported in October of last year. Year-to-October imports remain down 36% from 2019.

Imports from Ecuador and Malaysia each rose by 39% in October, yet they remain the two countries whose exports to the US are down the most for the year.

Year-to-October imports from Ecuador are down 68% while imports from Malaysia are off by 44%.

Balsa import volumes rose in October by 29% but were still only about one-third of what they were for October of last year. Balsa imports are down 67% year-to-October. Similarly, imports of Keruing, while rising 39% in October, are down 49% year-to-October.

Canadian imports of tropical hardwood rose 7% in October but are down 16% year-to-October.

Hardwood plywood imports continue to rise

Imports of hardwood plywood rose by 17% in volume in October, the strongest month of 2020 at 254,178 cubic metres. Imports from China rose 76% to the highest level since January and for the first month this year outpaced volume from a year ago.

Year-to-October imports from China are down 43%.

Imports from Indonesia also surged in October and are now up 32% for the year to October. Total US hardwood plywood imports remain up 3% year-to-October.

Veneer imports still weak despite rebound

While US imports of tropical hardwood veneer grew by 15% in October, imports for the month were less than half of the previous October. Year-to-October imports are down 31%. Imports from Italy and India recovered somewhat from September’s poor numbers but imports from Cote d’Ivoire and Ghana both fell by about half.

Imports from nearly all major trading partners are down by more than one-third year-to-October. However, imports from Cameroon had more than doubled by October.

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