US Dollar Exchange Rates of
15th
Mar
2025
China Yuan 7.24
Report from China
Suspension of US log imports
It has been reported by the General Administration of
Customs that China has suspended imports of log from the
United States. Chinese Customs has recently detected
quarantine pests including bark beetles and long-horned
beetles in logs imported from the United States.
The suspension aims to prevent the introduction of
harmful species and protect China's agricultural and
forestry production.
See:
http://www.customs.gov.cn/customs/302249/302266/302267/638
9608/index.html
Rise in plywood exports
China exported plywood to more than 200 countries and
markets and the share of the top 10 destinations in 2024
accounted for just 48% of the national total. According to
the data from China Customs, China’s plywood exports
totalled 13.27 million cubic metres valued at US$5.271
billion in 2024, up 24% in volume and 9% in value year
on year.
Most of the major destinations for China's plywood
exports saw significant growth in 2024, especially Taiwan
P.o.C where the export volume increased by more than
130%. In addition, China’s plywood exports to Vietnam,
Saudi Arabia, Thailand and the UAE rose 71%, 38%, 36%
and 31% respectively year on year.
The average CIF price for China’s plywood exports fell
11% to US$397 per cubic metre in 2024 from US$447 per
cubic metre in 2023. China’s plywood exports to Japan in
2024 fell 6% to 512,000 cubic metres in 2024.
Surge in plywood imports
According to data from China Customs, plywood imports
in 2024 totalled 793,000 cubic metres valued at US$222
million, surging nearly 170% in volume and 8% in value
over 2023. Russia was the largest supplier of China’s
plywood imports in 2024. China’s plywood imports from
Russia surged 210% to 742,000 cubic metres, accounting
for 94% of the national total.
Chinese enterprises have built factories in Russia to
manufacture plywood and export to China by the China-
Europe railway. This is why Chinese imports of Russian
plywood continued to rise in 2024. Russian birch plywood
is becoming more and more popular among Chinese
consumers resulting in large increase in China’s plywood
imports from Russia in recent years.
China’s plywood imports from Vietnam and Sweden also
surged in 2024. In contrast, China’s plywood imports from
Malaysia, Japan and Italy in 2024 fell 12%, 19% and 22%
year on year.
Rise in particleboard exports
According to China Customs, particleboard exports in
2024 totalled 529,000 tonnes valued at US$296 million,
up 34% in volume and 9% in value on 2023 levels.
China’s particleboard exports to Malaysia alone fell 2%
but for other top destinations China’s particleboard exports
rose.
Taiwan P.o.C was the largest market for China’s
particleboard exports in 2024 and exports rose 51% to
125,000 tonnes compared to 2023. Particleboard exports to
Peru and South Korea surged 102% and 170% over 2023.
China has exported particleboard to Asia, Africa and Latin
America with the rapid development of the Belt and Road
Initiative countries.
Demand for low cost particleboard in Asia, Africa and
Latin America has increased which has supported exports
of particleboard to these countries in recent years.
Slight rise in particleboard imports
According to China Customs particleboard imports
totalled 765,000 tonnes valued at US$347 million in 2024,
up 1% in volume and 4% in value, year on year.
Nearly 70% of China’s particleboard was imported from
four countries, Thailand, Brazil, Poland and Romania in
2024.
Thailand was the largest supplier of particleboard imports
in 2024. China’s particleboard imports from Thailand fell
17% and this is the main reason for China’s particleboard
imports did not increase much in 2024.
China’s particleboard imports from Poland surged in 2024.
It has been reported that the China-Europe freight train has
become a strong bond for China-Europe trade cooperation.
Poland is also the country with the most significant growth
in the volume of freight traffic along the Belt and Road
Initiative countries. In the first three quarters of 2024,
228,000 TEU of commodities arrived in Poland on China-
Europe freight trains, an increase of 154% over the same
period of 2023.
China’s particleboard imports from Brazil, Austria,
Vietnam and Italy rose 47%, 49%, 39% and 57%
respectively in 2024.
In contrast, China’s particleboard imports from Romania
and Russia fell 39% and 53% largely in 2024.
Thailand exceeded Romania to become the largest supplier
of China’s particleboard imports in 2024 and the volume
of particleboard imports from Thailand rose to 227,000
tonnes valued at US$66 million, up in value by 55% over
2023.
China’s particleboard imports from Brazil, Austria,
Vietnam and Italy rose 47%, 49%, 39% and 57%
respectively in 2024. In contrast, China’s particleboard
imports from Romania and Russia fell 39% and 53%
largely in 2024.
Plywood production capacity in 2024
According to the statistics from the Academy of Industry
Development and Planning under the National Forestry
and Grassland Administration (NFGA) and the China
Forestry Products Industry Association (CFPIA), the
number of plywood enterprises has declined but in terms
of production capacity there was an increase.
There were more than 6,020 plywood manufacturing
enterprises in 2024, down 19% year on year. The total
annual production capacity was 221 million cubic metres
in 2024, up 8% on 2023 level.
At the beginning of 2024 around 1,500 plywood mills
were under construction nationwide with a total extra
annual production capacity of about 29 million cubic
metres. It is expected that the total annual production
capacity of plywood in China will drop to 200 million
cubic metres by the end of 2025.
At present, the overall capacity of China's plywood
industries is greater than consumer demand. The
production capacity of plywood for furniture making and
home decoration accounts for about 36% of the total
production capacity.
Plywood for concrete formwork accounts for about 27%
of the total production and the oversupply of production
capacity is still prominent. The production capacity of
plywood for packaging further declined and the market
share is about 18% of total production capacity.
Blockboard accounts for about 11% of the total production
capacity and the balance is used for wood composite floor
substrate, container base, veneer laminated wood.
China's plywood industry continues to adjust the product
structure to adapt to changes in market demand.
See:
http://www.cnfpia.org/sf_A23CBF49946940E4A5E9FDED0E55
F5E4_297_9E5BA0FB363.html
 
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