Southern Pine lumber exports are up 15% through July 2024, even though they dropped 25% in June and were 12% lower than the same time last year. According to the Southern Forest Products Association, using data from the USDA’s Global Agricultural Trade System, the Southern Yellow Pine market is showing mixed results. After hitting a three-year high of 59.7 million board feet in May, exports hit a five-month low.

Softwood lumber imports in July were down 1% from the same period in 2023 and 5% below June’s levels, reflecting a broader shift in the global wood products market.

In terms of dollar value, Southern Pine exports between January and July 2024 increased 4% year-over-year to $130.2 million. Mexico remains the largest market, contributing $38.5 million, followed by the Dominican Republic at $31 million and India at $10 million. Meanwhile, treated lumber exports remained flat at $81 million, led by Jamaica with $13.7 million, the Leeward-Windward Islands at $13.1 million, and the Dominican Republic at $6.5 million.

International consultants noted that despite the July slowdown, Caribbean markets have remained stable, while exports to Europe have struggled. Chinese tariffs continue to hamper shipments, but India and Pakistan have emerged as growing markets for Southern Pine.

Among the key takeaways for major importers:
Mexico remains the largest importer, with volumes up 40% year-to-date (YTD) at 92.3 Mbf.
The Dominican Republic is up 11% YTD, though July's 4.4 Mbf marked a 2024 low.
India is trending 6% higher YTD at 22.2 Mbf, despite a four-month low in July.
Exports to China have dropped drastically, down 56% YTD at 8.6 Mbf.

Other Caribbean and Central American countries importing over 1 Mbf through July include:
Jamaica, the third-largest market, up 3% YTD to 31.2 Mbf.
The Leeward-Windward Islands, up 2% YTD to 19.6 Mbf.
The Bahamas, down 4% YTD at 11.9 Mbf.
Belize, up 30% YTD to 2 Mbf.
Netherland Antilles, up 165% YTD to 7.3 Mbf.
Haiti, up 28% YTD to 6.1 Mbf.
Barbados, up 16% YTD at 5.9 Mbf.
Several other regions, such as Panama, saw significant growth with a 409% increase, reaching 2.2 Mbf, marking a five-month high in July.

For countries outside the Caribbean, notable trends include:
Canada, up 38% YTD with 16.1 Mbf.
Pakistan, up 240% YTD to 8.9 Mbf, led by treated lumber.
Vietnam, with a staggering 565% increase to 2.6 Mbf.
On the downside, The Netherlands has seen a 48% drop YTD, while the French Pacific Islands are down 13% to 1.2 Mbf.

Source: Southern Forest Products Association