US Dollar Exchange Rates of 27th
China Yuan 6.8729
Report from China
Our correspondent in China has advised that she provided
incorrect statistics used for the overview of China¡¯s 2016
imports reported in our report, Volume 21 Number 5, 1st ¨C
15th March 2017. She extends her sincere apologies for
this error as does ITTO. The following provides an
assessment of China¡¯s 2016 imports based on more
Softwood dominate log imports in 2016
China¡¯s log imports in 2016 totalled 48.73 million cubic
metres valued at US$8.082 billion, a year on year increase
of 9% in volume and 0.3% in value. The average price for
imported logs was US$166 per cubic metre, a year on year
decline of 8%.
Of total log imports, 2016 softwood log imports rose 13%
to 34 million cubic metres, accounting for 70% of the
national total. The average price for imported softwood
logs was US$121 per cubic metre, down slightly on levels
Hardwood log imports
Hardwood log imports grew 1.6% to 14.73 million cubic
metres (30% of the national total log imports). The
average price for imported hardwood logs in 2016 was
US$270 per cubic metre, down 11% on 2015.
Of total hardwood log imports, tropical log imports were
9.1 million cubic metres valued at US$2.435 billion.
New Zealand and Russia main sources of logs
New Zealand was the main log supplier to China in 2016
accounting for 25% of total log imports. Imports from
New Zealand totalled 12.03 million cubic metres in 2016 a
year on year increase of 12%.
The second ranked supplier of logs was Russia at 11.16
million cubic metres, accounting for about 23% of the
national total. In 2016 a year on year increase of 5% was
recorded for log imports from Russia.
Average prices for imported logs from New Zealand rose
6%, but average prices for imported logs from Russia
declined 6% in 2016.
hardwood log imports
Tropical log imports in 2016 totalled 9.1 million cubic
metres up 2% year on year and accounted for 19% of the
national total. The value of tropical log imports in 2016
was US$2.435 billion reflecting a 15% decline.
Before its log export ban Myanmar was a major source of
tropical logs for China. However, China¡¯s log imports
from Myanmar in 2016 fell to just 132,700 cubic metres
valued at US$170.98 million. The average price for
imported logs from Myanmar surged in 2016 to US$1,289
per cubic metre.
The average price for imported tropical logs in 2016 was
US$267 per cubic metre, a year on year drop of 16%.
China imported tropical logs mainly from Papua New
Guinea (36%), Solomon Islands (25%), Equatorial Guinea
(12%), Cameroon (6%), Congo Brazzaville (5%) and
Nigeria (3%). Just 10 countries supplied 94% of China¡¯s
tropical log requirements in 2016.
Log imports from Ghana and Equatorial Guinea surged
121% and 65% in 2016 respectively. Countries from
which tropical log imports declined greatly included
Nigeria (-43%) and Laos (-38%).
The main port for tropical log imports in 2016 was
Nanjing Port which accounted for 87% of all tropical log