ITTO market report Archives - Page 5 of 5 - Forest Industries Intelligence

15 December, 202014 January, 2021

Major Implications for Timber Trade as Brexit Enters the Endgame. ITTO European Market Report 15th December 2020

The long drawn-out process of the UK breaking ties with the EU, which started with the referendum of July 2016, is finally in the endgame. Since formally leaving the bloc on 31 January 2020, the UK’s relationship with the EU has been governed by the Withdrawal Agreement. This has allowed the UK to continue on the same terms it had with the EU prior to departure during a so-called `transition period’.

This transition period will come to an end on 31^st December and it is only then that the full impact of the UK’s departure from the EU, which so far has been muted by the transition arrangements, not to mention the pressing effects of the COVID-19 pandemic during 2020, will become apparent.

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30 November, 20202 December, 2020

TTJ Reports UK Hardwood Sales Improving. ITTO European Market Report 30th November 2020

The UK hardwood trade may not be back to normal, and there is continuing anxiety about the effect of a second COVID-19 wave, but the sector has seen sales improving since May. This is according to the latest November/December 2020 hardwood market report in the UK Timber Trades Journal (TTJ – www.ttjonline.com ).

“In April we were at 40% of normal turnover, but we hit 60% in May, 80% in June and July was a good month, not on budget, but ahead of last year,” said a UK importer-distributor. “It’s not business as usual yet, but we’re in a better place than anticipated four months ago.”

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15 November, 202017 November, 2020

Rebound in UK Imports Continued in September but Prospects Less Certain. ITTO European Market Report 15th November 2020

UK imports of tropical wood and wood furniture products continued to rebound in September, with total value rising to USD97.6 million, 30% more than the previous month and the same level as in September 2019 (Chart 1). UK imports strengthened significantly in the third quarter, in line with the recovery in the broader economy and in construction activity and the housing market as lockdown measures eased during the period.

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31 October, 202017 November, 2020

EU27 Tropical Timber Imports Stronger Than Expected So Far In 2020. ITTO European Market Report 31st October 2020

EU27 tropical timber imports are stronger than expected so far in 2020. The total EU27 (i.e. excluding the UK) import value of tropical wood and wood furniture products was US$1.98 billion between January and August this year, 14% less than in 2019. This is a significantly higher level of import than forecast earlier in the year with the “Great Lockdown” having a severe impact on the wider EU27 economy and on the supply side in tropical countries. The fact that EU27 trade in tropical wood timber products was cooling even before the onset of the COVID-19 pandemic makes this performance more remarkable.

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30 September, 202013 November, 2020

EU Plywood Trade Cautious, But Covid Recovery Faster Than Expected. ITTO European Market Report 30th September 2020.

EU plywood trade is cautious, but Covid recovery is faster than expected. It’s still too early to say for sure, but it’s variously estimated by European plywood importers and distributors that the Covid-19 pandemic will slice 10-20% off their 2020 bottom line. Trade has since seen a bounce back, varying in degree from country to country, but companies don’t expect it to make up for the sales lost when the health crisis first hit.

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15 September, 20202 December, 2020

UK Market For African Hardwood “Recovering Well” After Lockdown. ITTO European Market Report 15th September 2020

The UK market for sawn African hardwood has been recovering well following easing of COVID-19 lockdown measures from June onwards. However, there are significant problems on the supply side with COVID-19 contributing to reduced harvesting and mill operations and a significant reduction in freight capacity.

This adds to the pre-existing challenges imposed by too much focus on a limited range of commercially valuable hardwood species in the UK, a feature of the market which sits uncomfortably with the UK’s strong preference for FSC certified material.

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