Last year, Sarawak’s export receipt from logs and timber products slumped by 17.5 percent to RM5.94 billion from RM7.2billion in 2015, according to figures from Sarawak Timber Industry Development Corp.
The value of exported logs fell by 21 percent to RM1.4billionfrom RM1.78billion year-on-year while that of plywood dropped by 10 percent to RM2.94billionfrom RM3.27billion.
Logs and plywood products made up 23 percent and 49 percent respectively of total export revenue in 2016. Other main exported timber products were lumber, fibreboard and veneer.
Timber companies are currently only allowed to export up to 30 percent of their log productions under a revised state policy which was enforced in June last year.
For many years, Sarawak had maintained logs exports up to 40 percent of total production but this was revised upward to 50 percent in 2014.