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South Korea Wood Market Report for October 2022

[Dec 29, 2022]


South korea wood market

As a result of counting the cumulative imports of timber in October 2022, the amount increased by 8.5% compared to the same month of the previous year, which is 0.9%p lower than the increase in October. Imports of wood products through October fell by 0.5% compared to the cumulative figure for the same month last year. The amount of imports increased by 8.5%. Import unit price increased by about 9.1%.

The cumulative import amount of roundwood decreased by 13.6% and lumber by 14.1% from the previous year. The decrease in volume was even more remarkable, with a decrease of 13.6% and 14.1%, respectively, from the cumulative total for the same month last year. The cumulative amount of plywood through October decreased by 4.7% from the same month last year, and the cumulative volume decreased by 12.9%. Due to the increase in the use of veneer by domestic plywood companies, the import volume of veneer increased by 19.9%. MDF volume decreased by 2.0% and chip (pellet) volume increased by 15.6%. Charcoal imports increased by 21.4% year-on-year.

By October 2022, the unit price of imports of most wood products increased by 2.3% for roundwood, 9.5% for plywood, 10.9% for MDF, 1.5% for PB, and 40.1% for chips (pellets) compared to the cumulative month of the previous year. Lumber fell by 4.2% and veneer by 1.8%.  /Statistics source = Korea Forest Service statistics on import and export of forest products.

The amount of lumber imports by country is in the order of Chile > Russia > Germany > Sweden > Canada > New Zealand > China, and the cumulative amount of lumber imports by October 2022 is $602,976,000. Compared to the same month last year, the amount of lumber imports decreased by 14.1%, the amount of imports decreased by 10.3%, and the unit price of imports decreased by 4.2%. Chile took up 29.0% of the lumber import volume, followed by Russia with 20.6%.

The import amount of log, sorted by country, is in the order of New Zealand > America > Germany > Australia >  Canada > Japan. As of October 2022, the accumulated log import amount is 3840890000 dollars. Compared with the same month last year, the import amount of logs decreased by 13.6%, the import volume decreased by 15.6%, and the import unit price increased by 2.3%. New Zealand logs account for 69.8%, accounting for 57.9%.

The total import amount of timber is Vietnam>Indonesia>Canada>China>the United States>New Zealand in turn. As of October 2022, the cumulative total import amount of timber is 49143450000 dollars. About 6.6 trillion won. Compared with the same month last year, the total import amount of timber increased by 8.5%, the import volume decreased by 0.5%, and the import unit price increased by 9.1%. Vietnam accounted for 15.6% and 27.6% of the total import amount of timber.

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