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US and Canada Timber and Wood Product Price and Market Report
01 – 15th Jan 2024

Report from North America

 US imports slowed again in November
US imports of tropical hardwoods and related products
slowed once again in November as imports in most
categories headed into the final month of 2023 well behind
their 2022 pace.

Imports of sawn tropical hardwood fell in November to
their lowest volume in more than two years; imports of
hardwood plywood declined by 14%; hardwood veneer
imports fell 18% and hardwood flooring imports fell by

The news was not all bad as imports of assembled flooring
panels rose by 6% and wooden furniture imports were able
to stay elevated after a sharp October gain, shedding less
than 2% in November.

Imports have been trending downward for much of the
year leaving US imports of sawn tropical hardwood,
hardwood plywood, hardwood moulding and assembled
flooring panels all at 30% behind 2022 imports through

Imports of sawn tropical hardwood hit yearly low
US imports of sawn tropical hardwood fell to their lowest
volume in over two years in November. The 12,022 cubic
metres imported in November was 30% less than the
previous month’s total and 35% less than that of
November 2022. Imports from top suppliers Brazil,
Indonesia, and Cameroon all fell by more than 50%.

Imports of Mahogany and Cedro showed gains while
imports of all other tropical hardwoods retreated. For the
year so far, Keruing imports are up 5% over last year
while all other woods are trailing last year’s pace.

Versus 2022, imports of Ipe are down 48%, imports of
Sapelli are behind 21%, and imports of Acajou d’Afrique
are off 46%. Through November, US imports of sawn
tropical hardwood are down 30% versus 2022 totals.

Canadian imports of sawn tropical hardwood fell 20% in
November to a level 36% below that of the previous
November. Imports from Congo/Zaire dropped by 84%
while imports from Bolivia were up by 138%. Total
imports for the year so far are down 18% versus 2022.

US hardwood plywood imports retreat
Following an October surge, US imports of hardwood
plywood fell 14% in November. Despite the decline, the
275,890 cubic metres of plywood imported in November
was 25% higher than the volume of wood imported in
November 2022. Imports fell from nearly all major
trading partners including Indonesia (down 31%), Russia
(down 60%), and Vietnam (down 7%).

This year has seen weakening volume from nearly all
major suppliers as the US has turned to other countries for
its hardwood plywood needs.

With only December’s data outstanding, imports from
China, Russia, Malaysia, and Vietnam for the year to date
are all less than half of what they were at this time last
year. Meanwhile, imports from countries other than the
chief supplying countries are up 43% for the year so far.
Total US hardwood plywood imports are down 30%
versus 2022 through November.

US veneer imports fall 18%
Imports of tropical hardwood veneer for November were
35% below that of imports for November 2022. Imports
fell 18% in November from the previous month as
shipments from countries that have made gains so far this
year began to tail off.

While imports from Cameroon, Cote d’Ivoire, Ghana, and
China are all up significantly for the year so far, imports
from each of these countries declined sharply in
November with imports from China and Cote d’Ivoire
each falling by more than two thirds.

Meanwhile, imports from Italy and India are trending in
the exact opposite fashion. Italy and India in recent years
have been the top suppliers of tropical hardwood veneer to
the US but imports from the two countries are down for
the year by 75% and 21%, respectively.

In November, imports from Italy rose 72% while imports
from India were up 432%. Overall US imports of tropical
hardwood veneer are down 5% for the year through

Hardwood flooring imports mixed in November
US imports of hardwood flooring fell 12% in November.
A large shipment from Brazil (up 170%) nearly made up
for declining imports from nearly all other trading
partners. Imports from Indonesia were off by 48% while
imports from China fell by 59%. Despite the decline,
imports for the month were 6% higher than in November
2022. Imports of assembled flooring panels rose by 6% in
November, rising to a level 2% higher than the previous

The rise was fueled by an 88% increase in imports from
Vietnam which more than offset a 33% decline in imports
from China. Through November, imports from nearly all
trading partners are down versus 2022 totals with imports
down 30% for the year so far.

Moulding imports dip
US imports of hardwood moulding declined for the second
straight month in November, falling 6% from the previous
month. The US$10.4 million in imports was 26% less
than that of November 2022.

Imports from China and Brazil both fell more than 40% in
November while imports from Malaysia rose 33%. Total
imports for the year are 30% less than 2022 through

Wooden furniture imports hold steady
US imports of wooden furniture remained relatively steady
in November, falling by less than 2% from the previous
month. The US$1.71 billion in imports was 5% less than
the previous November’s total.

Imports from Vietnam, the top trading partner, were up
3%, but imports from most other countries lagged and
imports from Canada sank by 12%. With the decline, year-
to-date imports from Canada are now only ahead of last
year by less than 1% while imports from most all other
trade partners are down for the year by 20% or more.
Total wooden furniture imports are behind last year’s pace
by 23% through November.

US kitchen and bath remodelers see challenges ahead
According to a nationwide survey conducted by Kitchen &
Bath Design News, remodeling dealers and designers,
although forecasting modest revenue gains in 2024,say
that they harbour nagging concerns about economic
conditions impacting sales revenue, business operations,
and profit margins in the coming year.

When asked about current economic conditions impacting
their business in 2024, 93% of those surveyed told KBDN
that they are either ‘somewhat concerned,’ ‘very
concerned,’ or ‘extremely concerned.’ When it comes to
kitchen and bath remodeling projects, roughly 58% of
those surveyed also reported that pricing is generally more
critical to clients than it was at the same time a year ago.

Price increases for products and raw materials, followed
by a shortage of labor, head a list of challenges facing
kitchen and bath design firms, survey respondents
told KBDN. Other top challenges include long lead times
for products, persistent production and shipping delays,
and customers postponing or canceling projects due to
increased costs.


US hardwood lumber exports fell in 2023
US exports of sawn hardwoods declined sharply in 2023
as exporters struggled to compete on price against
alternative species. Sawn hardwood exports had fallen fell
to 1.56 million cubic metres as of August 2023 a 21% year
on year decline. If his pace of decline 2023 exports will
decline be the lowest volume since 2011.

Exports to China fell by 10% and for 2023 it would appear
shipments to China are on pace to decline for a third
consecutive year after peaking in 2020. Sales to other
Pacific Rim markets fell at a steeper rate compared to
China. Shipments to Vietnam declined 23%. The
downward trend in exports was also evident in Europe.
Exports to the United Kingdom, the largest European
market for US hardwoods had plunged 37% up to August



LM       Loyale Merchant, a grade of log parcel  Cu.m         Cubic Metre
QS        Qualite Superieure    Koku         0.278 Cu.m or 120BF
CI          Choix Industriel                                                       FFR           French Franc
CE         Choix Economique                                                        SQ              Sawmill Quality
CS         Choix Supplimentaire      SSQ            Select Sawmill Quality
FOB      Free-on-Board     FAS            Sawnwood Grade First and
KD        Kiln Dry                               Second 
AD        Air Dry        WBP           Water and Boil Proof
Boule    A Log Sawn Through and Through MR              Moisture Resistant
              the boards from one log are bundled                      pc         per piece      
              together                      ea                each      
BB/CC  Grade B faced and Grade C backed MBF           1000 Board Feet          
              Plywood   MDF           Medium Density Fibreboard
BF        Board Foot F.CFA         CFA Franc        
Sq.Ft     Square Foot              Price has moved up or down
Source:ITTO'  Tropical Timber Market Report