Timber import volumes for Q3 2024 showed positive results for softwood, OSB, and engineered wood products (EWP) compared to Q3 2023. However, these gains were offset by declines in other market segments. Specifically, softwood imports rose by 1%, with both OSB and EWP experiencing similar growth. Despite these increases, the overall market faced a 1.2% deficit due to reduced volumes in other key products, notably hardwood plywood and MDF.
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Average prices for timber and panel products saw a gradual increase throughout the first nine months of 2024, marking an end to the prolonged price fluctuations experienced from 2000 to 2023. Solid wood imports fell by 1.7% during this period, while panel product imports saw a larger drop of 5.2%. This trend largely mirrored that of the first nine months of 2023, apart from a notable decline in March 2024 that contributed significantly to the 2.9% overall deficit.
Softwood imports to the UK continue to be dominated by five main supplier countries—Sweden, Latvia, Finland, Germany, and the Irish Republic—accounting for over 90% of total imports. However, 2024 has seen a shift towards diversifying supply sources, with a 3% decrease in volume from these leading nations and an 18% increase from other countries. This change meant a net reduction of about 120,000m3 from the top five, while volumes from alternative suppliers rose by approximately 60,000m3.
The value of softwood imports in the first three quarters of 2024 fell by 2.7% compared to the same period in 2023. The value of planed softwood dropped by 1.1%, and sawn goods saw a 4.3% decline. The average price per cubic metre for softwood imports stood at £254, slightly lower than the £258 recorded for the same period in 2023.
Tropical hardwood imports decreased by approximately 6,000m3 in the first nine months of 2024, with Cameroon contributing nearly 5,000m3 of this reduction. The Democratic Republic of Congo and Malaysia also saw significant decreases. However, imports from the Congo Republic and Poland increased slightly. Temperate hardwood imports fell by about 6,000m3, led by declines from the USA, Germany, and Croatia, although France and Romania showed modest volume increases. Additionally, countries like Poland, Canada, Lithuania, and Italy contributed to small gains.
The overall volume of mixed hardwoods imported to the UK dropped by 9% (8,000m3), but the top three suppliers increased their combined volumes by 2%, with the decrease mainly coming from smaller suppliers experiencing a 33% fall.
Nick Boulton, Head of Technical and Trade at TDUK, commented, 'It's encouraging to see prices stabilising, albeit at lower levels, and the overall import deficit shrinking to just 1.2%.' He pointed out the significant challenges ahead, particularly concerning the availability of softwood logs and low stock levels. 'Timber should not be treated as a commodity; its sustainability and low-carbon benefits must be recognised to support the timber supply chain's recovery and long-term stability,' he added.
Source: www.furnitureproduction.net