China’s log imports fall in Q1 2008
June 20, 2008
China’s log imports fell 11.5 percent in volume during the first quarter of 2008, but higher prices resulted in an 8.2 percent rise in the value of imports, reports the International Tropical Timber Organization’s (ITTO) Tropical Timber Market Report.
Figures from Chinese customs show that 8.5 million metric tons of logs — worth $1.4 billion — were imported in China during the first quarter of 2008. Tropical logs accounted for 12.2 percent of the total, or 1.04 million cubic meters.
Russia was the largest source of logs with 5.878 million cubic meters (69 percent of the total volume, 53 percent of the dollar value), followed by Papua New Guinea with 631,900 cubic meters (7.4 percent / 8.8 percent), Gabon with 278,800 cubic meters (3.3 percent / 7.8 percent), Malaysia with 274,500 cubic meters (3.2 percent / 4.1 percent) and the Solomon Islands 269,600 cubic meters (3.2 percent / 3.4 percent).
Slowing Chinese demand may be due to a combination of timber high prices and the disruption caused by Sichuan earthquakes.