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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