Rising prices of logs in multiple countries

1.Trends in Wood Prices in the United States

This issue of North American lumber is priced at $503.5 per thousand feet.

Trends in 1-year price changes of timber in the United States

The price decreased by 1.08% compared to the previous day, 0.5% compared to the same period last month, and 14.01% compared to the same period last year.

2.New Zealand Log Prices Rising

The PF Olsen log price index rose by $6 to $114 in August. At present, the index is $5 lower than the two-year average and $8 lower than the five-year average.

The PFO Log Price Index is published by PFO Olsen, a leading forestry service provider in New Zealand, to reflect the trend of price changes in New Zealand's exported logs.

3.Cork exports from Europe to the United States decreased in the second quarter.

The cork imported from Europe by the United States suddenly cooled down in the second quarter.

In the second quarter, the import volume of the United States from the top ten European suppliers decreased to 428 million plate feet (mmbf), a 30% decrease from the record high of 610 mmbf in the first quarter and a 12% decrease from the total volume in the same period last year.

The shipment volume from Europe to the United States has dropped to its lowest quarterly total since the last three months of 2021.

Many traders expect that European exports to the United States will continue to decline in at least the third quarter, below last year's record levels.

4.Rising prices of Swedish logs.

Compared to the first quarter of 2023, the prices of round logs (sawn logs and pulpwood) delivered by Sweden increased in the second quarter of 2023.

The price of sawn timber has increased by 3%, while the price of pulpwood has increased by nearly 6%.

5.The United States may impose tariffs on imported furniture from Vietnam.

According to a report by American media on August 29th, two years ago, the United States and Vietnam reached an agreement that Vietnam would improve its legal certification system for wood, and the United States would not impose 301 clause tariffs on goods imported from Vietnam.

Currently, the United States is concerned about Vietnam's progress in implementing the agreement and may begin imposing tariffs

Recently, officials from both countries held a third meeting with the Timber Working Group responsible for overseeing the implementation of the agreement. A report from the Office of the United States Trade Representative pointed out that progress in the implementation of the Vietnamese agreement has been slow.

The Office of the United States Trade Representative also emphasized that if Vietnam does not make enough progress, the United States will take punitive measures.