Page 11 - FDMAsia SepOct 2024

MARKET BEATS 9
www.fdmasia.com | FDM ASIA SEP/OCT 2024

China's Wood Industry was seriously hampered, coupled with the unstable situation in

Welcomes Positive Signals the Red Sea region led to shipping detours, port congestion,
the combination of these factors, African timber arrivals in
January fell sharply by 19 percent.

China's demand for African timber remains strong However, the resilience of the market gradually emerged in
China's demand for African timber remains strong despite the the following months, especially in February and April, timber
volatility facing the global timber market. imports surged by 79 per cent and 44 per cent respectively,
According to customs data, China imported a total of up becoming the highlight within the first half of the year.
to 1.46 million cubic metres of African timber from January A solid 33 per cent growth was also maintained in June,
to June 2024, achieving a remarkable growth of 16 percent indicating a pick-up in market demand.
compared to the same period last year; total imports reached Among the African countries exporting timber to China,
$470 million, an increase of 8.6 percent year-on-year; while Gabon became the biggest bright spot in the first half of the
the average unit price of imports fell slightly by seven percent. year, with its timber exports to China soaring 58 percent to

From the monthly data, African timber imports fluctuate 407,300 cubic metres.
between different months. South Africa and Ghana also performed outstandingly,
At the beginning of the year, some African countries suffered achieving amazing growth of 75 percent and 89 percent
from the rainy season, timber harvesting and transport work respectively, becoming the emerging force in the timber trade

Province of British Columbia