The UK imported tropical wood and wood furniture products with a total value of USD1.1 billion in the first ten months of 2021, a 38% increase compared to the same period in 2021. Import value to end October this year was also 4% more than the same period in 2019 before onset of the COVID pandemic. Following the sharp increase in April this year, when import value was at the highest monthly level since before the financial crises of 2008 – 2009, imports declined only slightly from this peak between May and October (Chart 1). Continue reading “38% Rebound In UK Imports Of Tropical Wood And Wood Furniture Products. ITTO European Market Report 15th December 2021”
A coalition of timber industry associations is collectively hosting the ‘World of Wood Festival’ from 25 October to 3 December at the Building Centre in London, online, and virtually. The six-week celebration of global timber and global forests coincides with COP26 climate talks being held in Glasgow in the first two weeks of November which brings together heads of state, climate experts and campaigners to agree on coordinated action to tackle climate change.
Designed to inform climate change policy and raise awareness of the mitigation opportunities presented by the forest products sector, the World of Wood Festival will showcase the vital role that forest supply chains have to incentivise sustainable forest management, increase carbon sequestration both in forests and products, and substitute for more carbon-intensive building materials.
It’s been six months plus of extremes and superlatives in the European sawn hardwood sector.
Importers, distributors and merchants say the trading environment has been like nothing they’ve experienced during decades in the business. Demand has climbed across key markets. Freight rates have reached unprecedented levels. Supply has become exceptionally tight and lead times have stretched from sources globally. Prices have consequently hit the heights, while margins are variously described as good to extremely so.Continue reading “Hardwood Trade In Europe Profiting Under Pressure”
Yokohama, 30 August 2021: Tropical log production declined by 3% in 2020 due largely to the COVID-19 pandemic, and imports plummeted by 11%, according to ITTO’s Biennial Review and Assessment of the World Timber Situation 2019–2020, which was released today. The flagship report provides data on the production and trade of primary and secondary processed wood products in 73 countries worldwide.Continue reading “Trade In Tropical Hardwood Logs At Lowest Level Ever Recorded As Tropical Forest Sector Hit Hard By COVID. ITTO Market Report 31 August 2021”
At the time of writing, the 63200-tonne dwt Konya was unloading its cargo of plywood and other wood products at the UK port of Tilbury. It was the first timber breakbulk vessel out of Port Klang, Malaysia to London in years and a sign of the times.Continue reading “Plywood Market Lucrative, but Challenging. ITTO European Market Report 30th July 2021”
The global significance of the European furniture sector, and some positive signs for the sector after the turmoil caused by the COVID pandemic, are highlighted in recent reports in World Furniture, the trade journal of CSIL, the Milan-based furniture market research organisation (www.worldfurnitureonline.com).
In the editorial to the most recent edition (June 2021) of World Furniture, Paola Govoni notes that “the disruptive consequences of the last 18 months are there for all to see. A lot has changed on every level and some of these developments could be here to stay. At the time of writing there are encouraging signals in Italy and most of Europe showing that the summer could be the beginning of an exit-phase from the pandemic. Major international economies have entered a recovery path and the strengthening of the increasing trend resulted in an upward revision of growth forecasts in many countries”.Continue reading “Some Encouraging Signs for European Furniture Sector. ITTO European Market Report 15th July 2021”
The UK imported tropical wood and wood furniture products with a total value of USD419 million in the first four months of 2021, an 18% increase compared to the same period in 2020. There was a particularly sharp increase in April when imports were USD129 million, the highest monthly import value recorded since before the financial crises of 2008-2009.Continue reading “UK Tropical Wood Import Value in April at Highest Level Since 2008-09 Financial Crises. ITTO European Market Report 30th June 2021”
A survey of over 130 companies in the EU+UK, including a significant proportion of the region’s largest importers of tropical timber products, highlights that FLEGT licensing has helped boost market prospects for Indonesian products. It also shows that implementation of the EU Timber Regulation (EUTR) and associated rising dependence on certified products has led to a narrowing in the range of tropical companies supplying the region overall.Continue reading “Survey Highlights Benefits of FLEGT Licensing to European Market Prospects. ITTO European Market Report 15th June 2021”
The UK imported tropical wood and wood furniture products with a total value of US$290 million in Q1 2021, a 2% increase compared to the previous quarter and 6% up on Q1 2020 (even before the effects of the COVID pandemic were being felt – Chart 1). The strong performance in the first three months of this year reflect both a robust rise in consumption in the UK, supported by strong government stimulus measures, and the late arrival of delayed shipments from the previous year. The rise occurred despite severe logistical problems that have emerged in shipment of tropical wood products to the UK since the start of the pandemic.Continue reading “UK Tropical Wood Imports Recover Ground Despite Supply Challenges. ITTO European Market Report 15th May 2021”
Total EU27 (i.e. excluding the UK) import value of tropical timber and wood furniture products was US$2.99 billion in 2020, 9% less than the previous year. This is a significantly higher level of import than forecast when the first waves of the COVID-19 pandemic hit the continent early in 2020. It was, however, the lowest level in recent decades and represented a further decline in a market that has been severely restricted ever since the financial crises (Chart 1).Continue reading “Record Low EU27 Tropical Timber Imports in 2020. ITTO European Market Report 30th April 2021”