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March 15, 2016

China: Tropical log imports down 10%; average import prices drop 25%

China: Tropical log imports down 10%; average import prices drop 25%

Chinese tropical log imports in 2015 totalled 8.9 million cubic metres accounting for 20% of the national total and were valued at US$2.8 billion reflecting a 10% decline in volume and a 32% decline in value.

The average price for imported tropical logs was US$319 per cubic metre, a year on year drop of 25%.

China imported tropical logs mainly from Papua New Guinea (36%), Solomon Islands (25%), Equatorial Guinea (7.4%), Cameroon (6.2%), Nigeria (6.1%) and Congo Brazzaville (5.9%).

Just 10 countries supplied 96% of China’s tropical log requirements in 2015.

Log imports from Equatorial Guinea grew 32% in 2015 and imports from Cameroon expanded 14% over the same period.

Countries from which tropical log imports declined included Malaysia (-47%) and Laos (-43%). The main point for tropical log imports in 2015 was Nanjing Port which accounted for 84% of all tropical log imports.

Average tropical hardwood log prices, 2015

Average price US$/cu.m. Change in % 2014-2015
PNG 209 -14%
Solomon Is. 198 -8%
Equatorial Guinea 272 -24%
Cameroon 336 -14%
Nigeria 627 -9%
Congo (Brazzaville) 337 -20%
Laos 1292 -24%
Malaysia 329 -3%
Liberia 271 -13%
Suriname 318 -10%

Source: China Customs

Top tropical hardwood log sources, 2015

2015 import in m3 Change in % 2014-2015
PNG 3162900 -4%
Solomon Is. 2221900 1%
Equatorial Guinea 657800 32%
Cameroon 549200 14%
Nigeria 546000 8%
Congo (Brazzaville) 526100 -8%
Laos 261200 -43%
Malaysia 200000 -47%
Liberia 119400 17%
Suriname 90800 -14%

Source: China Customs

 

 

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