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April 4, 2022

High costs hit Vietnamese wood product manufacturers

High costs hit Vietnamese wood product manufacturers
Rising input costs are eroding the profits of Vietnamese wood product manufacturers putting them at risk. Additionally, sanctions on Russia are likely to cause a decline in supplies of timber raw materials from Russia. As timber supplies become tighter, Vietnamese firms will have to compete more fiercely in international markets especially for timbers from the EU and the US.    According to VIFOREST Vietnam has been importing 5.5 – 6.5 million cubic metres of timber raw material every year. Higher raw material prices coupled with mounting transportation costs have added to import bills driving down profitability ...

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