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

Report from North America

 Collapsed Baltimore Bridge causing supply-chain

The 26 March the collapse of Baltimore’s Francis Scott
Key Bridge following a collision by a massive container
ship that lost power is causing supply-chain disruptions
among many industries, including the industries that use
plywood and other wood products.

While the collapsed bridge blocks the primary route into
the Baltimore port, imports will not be able to enter the
port and exports cannot leave. Imported commodities from
overseas will need to be diverted to other ports of entry.

The Port of Baltimore is the most important US port for
plywood imports. Plywood, veneered panels, and similar
laminated wood totalling US$425.07 million in imports
moved through the port in 2023, which represents 16% of
the US total import value. Baltimore is also the top port
for the import of gypsum, handling 14% of the US total
import value for 2023 and a key port for sawnwood
imports, handling 3% of total import value last year.

In January of this year, the Port moved more than 62,000
container tons of forest product, reported Furniture Today,
citing Maryland statistics. That’s the largest amount
moved since August 2023.

Far East American is one company to import hardwood
plywood primarily through Baltimore. The company
imports thin panel plywood from Indonesia, China,
Russia, and other countries to be used in the building
industry, cabinet industry and for large specialty
manufacturers, according to its site.

Products moving through Baltimore include Russian birch
and Chinese raw and prefinished plywood panels. China
Emburg Plywood is another company to use the port,
importing plywood, film faced plywood and melamine
boards to the US market.

In 2020, major international forest product supplier Metsä
Group signed a contract with the Port. Per the agreement,
Metsä leased 75,135 square metres of warehousing space
at two of the port’s terminals, an increase of more than
60% compared with its previous contract signed in 2016.

Based on Census data, the United States imported more
than US$3.08 trillion worth of goods from overseas.
Baltimore imported US$58.8 billion worth of goods in
2023, making it the 5th largest port of entry on the eastern
seaboard and 15th largest overall in the US.


Sawn tropical hardwood imports gain 24% over last

Imports of sawn tropical hardwood held steady in
February, rising less the 1% over January totals. At 16,266
cubic metres, imports in February were 24% higher than in
February 2023.

Imports from Brazil rose sharply for a second straight
month, along with gains in imports from Ghana (up 49%)
and Cameroon (up 13%). Imports of Mahogany rose 67%
in February and are up 54% through the first two months
of the year. Imports of Cedro and Sapelli also gained in
February and are both up around 45% so far this year
versus last year. Total imports of sawn tropical hardwood
are up 6% over last year through the first two months of
the year.

Canada’s imports of sawn tropical hardwood continued to
tumble from their December peak, falling 35% in February
after a 26% January decline. February imports trailed last
February by 17% yet imports through the first two months
of the year outpace last year by 16%.

Hardwood plywood imports cool, but look stronger
US imports of hardwood plywood fell 32% in February.
While on the surface that may seem disappointing, other
factors point to a much better outlook. February is often a
slow month for these imports, so a decline was to be

Moreover, at 195,963 cubic metres, February volume was
still up 51% over February 2023 imports. Total imports
through the first two months of the year are up 74% over
2023. And while February imports from most countries
were down in February from January, imports versus last
year for the first two months of the year are up nearly
200% from Vietnam and Malaysia, and up 50% from
Indonesia. Imports from Russia, however, were down 86%
in February and are off by 52% for the year so far.

US veneer imports plummet
Imports of tropical hardwood veneer plunged 53% in
February to their lowest level since October 2022. The
US$1.35 million in imports for the month was down 43%
from the previous February’s total.

Imports from Cameroon, which had been at record highs
in recent months, fell 76%, while imports from China and
Cote d’Ivoire were down 92% and 35%, respectively.
Imports from India edged up 8% while imports from
Ghana posted a healthy 53% gain. Total imports are down
18% versus last year through the first two months of the

Flooring imports move upward
US imports of hardwood flooring rose 10% in February as
imports from Brazil more than doubled from the previous
month. Imports from Brazil climbed 117% in February for
their strongest month in more than a year while imports
from Indonesia rose 24%. Imports from Malaysia were
their weakest since December 2019 after falling 68%.
Through the first two months of the year, total imports of
hardwood flooring are down 17% versus last year.

US Imports of assembled flooring panels also rose but not
as sharply. Imports gained 4% as imports from top-
suppliers Vietnam and Canada showed impressive

Those gains were tempered by a 30% decrease in imports
from Thailand as well as declines in imports from China
and Brazil. Versus 2023, this year has started well for
assembled flooring panel imports: total imports for
February were 59% above the previous February and
through the first two months of the year imports are up

Moulding imports rise 13%
Imports of hardwood moulding rose 13% in February as
top-supplier Canada continued to gain market share.
Imports from Canada moved up 16% in February and are
ahead of last year by 4% through the first two months of
the year. Meanwhile, imports from other top-supplying
nations are down sharply. Imports from Brazil are down
64% and imports from China are off by 59%. Total
imports are ahead of last year by 4% through February.

Wooden furniture imports find stability
US imports of wooden furniture remained flat in February,
rising less than 1%. Following months of volatility since
the beginning of the COVID pandemic, imports have held
within a comparatively narrow range of US$1.7 billion to
US$1.75 billion for the past five months.

At US$1.745 billion, imports for February were 20%
higher than in February 2023. Imports from top-supplier
Vietnam rose 12% in February to their highest level since
September 2022 while imports from Malaysia and Mexico
also gained more than 10%. Through the first two months
of the year, imports are up 6% versus 2023.

Commerce Department's moves to disrupt 'unfairly
traded cabinet imports'
The US Commerce Department on April 4 proposed plans
to create a certification process that it says will disrupt the
flow of finished and unfinished Chinese cabinet
components parts being completed in Malaysia and
Vietnam before being sent to the US market, reports the
Kitchen Cabinet Manufacturers Association (KCMA).

The KCMA released a statement applauding what it calls
positive steps to "stop unfairly traded Chinese cabinet and
components parts being moved through Malaysia and
Vietnam, circumventing the anti-dumping and
countervailing duty orders on wooden cabinets, vanities
and components thereof (“WCV”) from China."

As part of the proposed process, both importers and
exporters will be required to certify that each shipment of
cabinets from Malaysia and Vietnam does not contain
finished and/or unfinished Chinese cabinet components,
including the doors, drawer faces, and frames.

The department has provided interested parties an
opportunity to submit comments on the proposed
certification process on April 19 and to submit rebuttal
comments on April 26. Commerce intends to issue its final
scope ruling on June 14.

In April 2020, in response to petitions filed by KCMA to
combat unfairly traded imports from China, the US
Department of Commerce issued antidumping and
countervailing duty orders on wooden cabinets, vanities
and components thereof (“WCV”) from China.

The KCMA said that the relief provided by these orders to
the domestic industry was being eroded by WCV that were
made in China and then transshipped through Malaysia
and Vietnam to the United States. In April 2022, the
KCMA requested that the Commerce Department conduct
scope inquiries and anti-circumvention proceedings to
address this problem and protect tens of thousands of
American cabinet jobs.


Kitchens remain most commonly renovated rooms in

According to a new survey, kitchens continue to lead as
the most commonly renovated interior room (29%),
followed closely by guest bathrooms and primary
bathrooms (27% and 25%, respectively).

The Houzz survey found living room projects also are
popular, with 1 in 5 homeowners (21%) undertaking them.
The median spend for kitchen and primary bath projects
jumped in 2022, and in 2023 it increased again—by 20%
and 11%, reaching US$24,000 and US$15,000,
respectively. Other findings from the survey included
continued strength in hiring of professional renovators and
a slight slowdown in the purchasing of renovation

Findings are from a survey of 32,615 users on the home
renovation and design website, including
17,713 renovating US homeowners, about their home
renovations in 2023 and plans for 2024.




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