US Dollar Exchange Rates of
10th
Aug
2024
China Yuan 7.17
Report from China
Decline in log imports
According to China Customs log imports totalled 18.82
million cubic metres valued at US$3.268 billion in the first
half of 2024, down 7% in volume and 8% in value over
the same period of 2023. The average price for imported
logs was US$174 (CIF) per cubic metre, down 1% from
the same period of 2023.
Of total log imports, softwood log imports fell 11% to
13.26 million cubic metres and accounted for 70% of the
national total, down 3 percentage points from the same
period of 2023. The average price for imported softwood
logs declined 10% to US$131 (CIF) per cubic metre over
the same period of 2023. Hardwood log imports rose 2%
to 5.55 million cubic metres, accounting for 30% of the
national total. The average price for imported hardwood
logs rose 6% to US$276 (CIF) per cubic metre over the
same period of 2023.
Of total hardwood log imports, tropical log imports were
2.96 million cubic metres valued at US$772 million CIF,
up 0.3% in volume and 1.4% in value from the same
period of 2023 and accounted for 16% of the national total
log import volume, up 1 percentage points over the same
period of 2023.
Sharp decline in log imports from EU
In the first half of 2024 China's log imports from European
Union came to 2.418 million cubic metres valued at
US$481 million, down 47% in volume and 44% in value
from the same period of 2023 and it was this trend that
impacted the decline in the total log imports.
China’s log imports from Germany, Poland and France as
the top three suppliers among the European Union, fell
64%, 29% and 27% to 842,000 cubic metres, 477,000
cubic metres and 369,000 cubic metres respectively in the
first half of 2024.
In terms of species the largest decline was large diameter
fir and spruce logs (minimum section size 15 cm and
above), which fell by 63% to 1.28 million cubic metres in
the first half of 2024. Fir and spruce imports from
Germany, Poland and France fell 73%, 46% and 40%
respectively over the same period of 2023.
Germany out of top three suppliers for imported logs
China’s log imports from Germany fell 64% to 840,000
cubic metres in the first half of 2024. Germany has
dropped out of the top three suppliers of logs to China and
was ranked sixth in the first half of 2024.
China’s spruce and fir (44032300), Korean pine and Scots
pine (44032110), Douglas fir (44032520) log imports from
Germany reduced 73%, 61% and 26% respectively.
Furthermore, the average CIF prices for spruce and fir,
Korean pine, Scots pine and Douglas fir logs fell 16%,
15% and 1% to US$137, US$132 and US$177 per cubic
metre respectively.
It has been reported that German log prices declined in the
first half of 2024 and this with the recent increases in
freight rates and local transport costs it has become
unprofitable to export.
Rise in log imports from Australia
China’s log imports from Australia fell to zero in 2022
because of a ban on imports as the quarantine service in
China detected pests in log shipments. However, in the
first half of 2023 China has resumed importing Australian
timber .
China’s log imports from Australia in the first half of 2024
surged more than 400% to 330,000 cubic metres over the
same period of 2021 ranking 11th among the top suppliers.
 
Slight rise in tropical log imports
China’s tropical log imports rose 0.3% to 2.958 million
cubic metres in the first half of 2024. China imported
tropical logs mainly from Papua New Guinea (36%),
Solomon Islands (31%), the Republic of Congo (6%) and
Cameroon (6%). Just 4 countries supplied nearly 80% of
China’s tropical log requirements in the first half of 2024.
China’s tropical log imports from PNG, the Republic of
Congo and Cameroon fell 14%, 28% and 21% respectively
in the first half of 2024. In contrast, China’s log imports
from the other top suppliers grew at different rates.
China’s tropical log imports from Bolivia surged in the
first half of 2024.
 
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