US Dollar Exchange Rates of 25th March
2019
China Yuan 6.7157
Report from China
Rise in log imports in 2018
China¡¯s log imports in 2018 totaled 59.75 million cubic
metres valued at US$10.984 billion, a year on year
increase of 8% in volume and 11% in value. The average
price for imported logs was US$184 per cubic metre, a
year on year increase of 3%.
Of total log imports, 2018 softwood log imports rose 8%
to 41.61 million cubic metres, accounting for 70% of the
national total, one percentage point of increase on 2017
level. The average price for imported softwood logs was
US$139 per cubic metre, up 4% on levels in 2017.
 
New Zealand still the top sources of logs
New Zealand was the main log supplier to China in 2018
accounting for 29% of total log imports. Imports from
New Zealand totalled 17.38 million cubic metres in 2018,
a year on year increase of 21%.
The second ranked supplier of logs was Russia at 10.48
million cubic metres, a year on year decline of 7%,
accounting for about 18% of the national total, down 2%
over 2017.
Average CIF prices for imported logs from New Zealand
rose 6% toUS$141 per cubic metre but from Russia CIF
prices slightly fell 0.4% at $124 per cubic metre in 2018.
2018 hardwood log imports
Hardwood log imports grew 6% to 18.07 million cubic
metres (30% of the national total log imports). The
average CIF price for imported hardwood logs in 2018
was US$288 per cubic metre, up 3% on 2018.
Of total hardwood log imports, tropical log imports were
11.06 million cubic metres valued at US$3.456 billion, up
15% in volume and 21% in value from 2017, accounting
for 17% of the national total import volume. The average
CIF price for imported tropical logs was US$312 per cubic
metre, up 6% on levels in 2017.
High value hardwood log species
The main imported hardwood log species are Birch (12%),
Oak (7%), North America hardwoods (5.5%), Eucalyptus
(4.7%), Chinese redwood (4.4%), Okoume (4.3%), Beech
(4.2%) and Poplar (3.1%).
The volume of merbau, birch and North America
hardwood log imports jumped 17%, 16% and 16%
respectively. However, the volume of ash, okoume,
Chinese redwood and beech log imports fell 22%, 21%
and 18% and 16% respectively.
Tropical hardwood log imports
Tropical log imports in 2018 totalled 11.06 million cubic
metres up 15% year on year and accounted for 19% of the
national total, a year on year increase of 2 percentage
points. The value of tropical log imports in 2018 was
US$3.456 billion reflecting a 21% rise.
Before its log export ban, Myanmar was a major source of
tropical logs for China. However, China¡¯s log imports
from Myanmar in 2018 fell to just 13,935 cubic metres
valued at US$19 million, down 30% in volume and 4% in
value.
The average price for imported logs from Myanmar surged
in 2018 to US$1,364 per cubic metre, up 37% over 2017.
The average price for imported tropical logs in 2018 was
US$312 per cubic metre, a year on year rise of 6%. China
imported tropical logs mainly from Papua New Guinea
(32%), Solomon Islands (25%), Equatorial Guinea (11%),
Cameroon (6%) and the Republic of Congo (5%). Just 14
countries supplied 95% of China¡¯s tropical log
requirements in 2018.
Log imports from Sierra Leone, Suriname, Central Africa,
Ecuador and Liberia surged 218%, 118%, 108%, 99% and
72% in 2018 respectively. In addition, tropical log imports
from Cameroon, PNG, Equatorial Guinea and Laos also
rose 33%, 22%, 17% and 17% respectively.
Countries from which tropical log imports declined greatly
included Nigeria (-33%), the Republic of Congo (-30%)
and Ghana (-15%).
 
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