US Dollar Exchange Rates of
10th September
2019
China Yuan 7.1167
Report from China
Decline in log imports
China’s log imports in the first half of 2019 totalled 29.56 million
cubic metres valued at US$5 billion, a year on year decline of 2% in
volume and 14% in value. The average price for imported logs was US$169
per cubic metre, a year on year drop of 12%.
Of total log imports, softwood log imports rose 5% to 21.06 million
cubic metres, accounting for 71% of the national total, one percentage
higher than in the same period in 2018. The average price for imported
softwood logs was US$135 per cubic metre, down 3% on levels in the first
half of 2018.
Hardwood log imports fell 16% to 8.50 million cubic metres in the first
half of 2019 and accounted for 29% of the national total, a 1% drop year
on year. The average price for imported hardwood logs was US$254 per
cubic metre, down 12% on levels in 2018.
Of total hardwood log imports, tropical log imports in the first half of
2019 totalled 3.84 million cubic metres, down 12% year on year and
accounted for 13% of the national total, a year on year decrease of 6%.
The value of tropical log imports in the first half of 2019 was US$1.27
billion reflecting a 25% decline year on year.
First half tropical log imports plunge
Before its log export ban, Myanmar was a major source of
tropical logs for China. However, China’s log imports from Myanmar in
the first half of 2019 fell to just 6,865 cubic metres valued at US$8.4
million, down year on year by 36% in volume and 44% in value.
The average price for imported logs from Myanmar in the first half of
2019 was US$1,224 per cubic metre, down 10% year on year.
The average price for imported tropical logs in the first half of 2019
was US$330 per cubic metre, a year on year rise of 6%. China imported
tropical logs mainly from Papua New Guinea (27%), Solomon Islands (23%),
Equatorial Guinea (14%), the Republic of Congo (9%) and Cameroon (7%).
Just 10 countries supplied 90% of China’s tropical log requirements in
the first half of 2019.
Tropical log imports from Gambia and the Republic of Congo surged 344% and
61% respectively. Countries from which tropical log imports declined
greatly included Mozambique (-42%), Sierra Leone (-32%), Cameroon
(-21%), Ghana (-19%) and Suriname (-16%).
Plywood exports to US plunge – sharp rise in exports to Uzbekistan
In the first half of 2019 the volume of China’s plywood exports
came to 5.07 million cubic metres valued at US$2.23 billion, a year on
year decline of 9% and 17% respectively.
The markets for China’s plywood exports are very varied. The top 10 export
markets accounted for just 50% of total exports in the first half of
2019.
The volume of China’s plywood first half 2019 export to the US dropped by
61% year on year to 283,000 cubic metres. In contrast the volume of
China’s plywood export to Uzbekistan surged to 140,000 cubic metres.
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