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An article in Ply Insights offers suggestions on the key In the first seven months of 2025, W&WP exports amounted
issues facing the panel industry. to USUS$9.6 billion, up eight percent over the same period
• Rising raw material cost vs. Falling sales. in 2024 with WP exports contributing US$6.6 billion, up eight
• Price of essential raw material has been steadily increasing. percent over the same period in 2024.

• Sales volumes have dropped putting immense pressure W&WP exports to Middle East markets in July 2025 were
on margins. recorded at USUS$9.8 million, up 19 percent compared to
• Small and micro manufacturing units are the worst hit, July 2024.
with production down by nearly 30 percent. In the first seven months of 2025, W&WP exports to the
• Market credit availability is worsening. Middle East markets earned US$67.7 million, up 38 percent
• Increased credit cycle is leading to liquidity crunches for over the same period in 2024.
manufacturing and dealers. In July 2025, bedroom furniture exports were valued at
• Delayed payments are causing further operational difficulties. US$182 million, down six percent compared to July 2024. In
• Regularly pressure from the bis regulation the first seven months of 2025, exports of bedroom furniture

brought in about US$1.2 billion, up five percent over the
It is reported that BIS compliance has resulted in a six same period in 2024.
to seven percent increase in costs which will be passed on In July 2025, W&WP imports to Vietnam were valued at
to end users. US$309.5 million, up 17 percent compared to July 2024. In
Despite the government’s restriction on imports, domestic the first seven months of 2025, W&WP imports were valued
industries are still struggling to capture more market share and at US$1.8 billion, up 19 percent over the same period in 2024.
meet demand effectively. This, says Ply Insights, suggests Vietnam's poplar imports in July 2025 were 37,600 cubic

systemic issues that cannot be resolved by import restrictions metres, worth US$17.1 million, up eight percent in volume and
alone. nine percent in value compared to June 2025.
Ply Insight reports an industry wide call for Government Compared to July 2024, the value of imports decreased by
support and industry unity saying to safeguard the future of nine percent in volume but increased by four percent in value.
the Indian plywood and related industries it is imperative that In the first seven months of 2025, poplar imports were
there is dialogue with government. estimated at 196,900 cubic metres, worth US$84.9 million,
The industries also request immediate relaxation on import down 10 percent in volume but up two percent in value
of logs core veneer and face veneer as these inputs are year-on-year.
essential for the sustainability and growth of the wood panel
Oliver Nowak
sector in the country.

VIETNAM
Wood and Wood Product (W&WP) trade highlights
According to the Vietnam Customs Department, in July 2025
W&WP exports reached US$1.47 billion, up nine percent
compared to June 2025 and up six percent year-on-year. Of

this, WP exports alone fetched US$ billion, up nine percent
compared to June 2025 and up five percent year-on-year.