China's hardwood imports from the US fall sharply
In 2023, U.S. foreign trade in hardwood lumber declines sharply.
This year, exporters have struggled to compete on price with alternative species in most offshore markets.
US hardwood lumber exports to overseas destinations fell to 1.56 million cubic metres in the year to August, a 21 per cent drop from the same period last year, according to the data. At the current rate, exports will fall to their lowest level since 2011, according to statistics from the U.S. Foreign Agricultural Service .
U.S. exports to China, by far the largest overseas market for U.S. hardwoods, slipped to 696,063 cubic metres in the year to August, down 10 per cent from a year earlier, according to the statistics.
This is the third consecutive year of decline after exports to China peaked in 2020 at 1.25 million cubic metres.
Exports to other destinations in the Pacific Rim declined more sharply compared to China.
The other regions also showed varying degrees of decline, except for Portugal (flat) and the UAE (+29%), which showed positive growth.
In terms of species:
Red oak FOB exports fell by 18% to 463,416 cubic metres.
Shipments to China fell 20% to 234,980 cubic metres, accounting for 62% of total red oak shipments to overseas destinations.
Red oak is the most commonly exported hardwood species from the United States.
White oak exports plummeted 36% to 288,899 cubic metres.
Shipments to almost all destinations fell sharply.
Yellow poplar exports fell 21 per cent to 198,566 cubic metres. Contrary to the apparent global downward trend, yellow poplar exports to China increased by 12 per cent.
