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

rawpixel.com Okoume logs has experienced a mild decrease of four percent.
According to statistics, Congo (Brazzaville) accounts for over
70 percent of the market share of Okoume exports to China.
In terms of the domestic market, since March, the

domestic timber inventory has entered the stage of "active
destocking", and there are structural differences in the recovery
of downstream demand. This trend may continue for a longer
period of time in the second half of the year.
The increase in imports of these timber species reflects
the domestic market's demand for diversification and quality
improvement of African timber.
Although African timber imports showed strong growth in
the first half of the year, the future still faces many uncertainties.

The global economic slowdown is likely to have a further
impact on the timber market, with investment and demand
in key timber-consuming sectors such as construction and
in the first half of the year. furniture manufacturing likely to be dampened.
In addition, other African countries such as Mozambique, In addition, factors such as the political and economic
the Democratic Republic of Congo, Equatorial Guinea and situation in African countries, weather changes and international
Central Africa also achieved growth in timber exports to China trade policies may also have an impact on timber imports.

to varying degrees.
In the first five months of 2024, China's total import of Australia's timber export trade to China recovers
Sapelli sawn timber surged to 45000 cubic meters, a 1.5-fold According to the latest figures, up to June 2024, Australia
increase compared to the same period last year. At the same exported more than 300,000 cubic metres of logs and more
time, the import value also increased synchronously, reaching than 20,000 cubic metres of sawn timber to China, indicating
24.94 million US dollars, achieving a 1.5-fold growth. a notable recovery.
Okoume logs have also shown a positive growth trend. After more than a year since China lifted its $1.6 billion
The total import volume in the first half of the year has risen ban on log exports, Australia's relations with the country are
to 150000 cubic meters, a year-on-year increase of seven showing signs of improvement.

percent. China is the top export destination for Australia, accounting
Among them, February became the peak of imports, with for over 25 percent of the nation's total export trade.
the monthly landed volume soaring to 40000 cubic meters, a Despite progress, exports remain notably lower than pre-
98 percent increase compared to the same period last year; COVID levels, with China receiving 500,000 cubic metres of
Although June was the lowest monthly point in the first half softwood in May 2019.
of the year, it still increased nearly 4.5 times compared to the Additionally, woodchip exports are on the rise, with Australian
same period in 2023. exporters shipping over 229,300 cubic metres of wood chips

It is worth noting that although both trade volume and through China in April 2024, reflecting a 12 percent increase
import volume have increased, the average import unit price of from April 2023.