Temporary imports glut. This is the accurate description of the situation in Egypt, where the late arrival of wood to Egypt due to the delay in shipment or the unavailability of the supply of wood during the previous period led to an insane increase in prices in the local market.
Here is a positive point, as the high price in the Egyptian domestic market encouraged importers to accept international wood prices and to accept high shipping prices to speed up the arrival of wood to Egypt. All these reasons led to the arrival of large quantities to the Egyptian ports in a short time, about 450,000 cubic meters at this month. The number appears to be a bit large, but it is nothing in relation to normal imports of Egypt.
Especially when we know that the normal level is 300,000 m3 per month (during the past four months, only 300,000 m3 arrived to Egypt) and the warehouses are almost empty.