Page 24 - FDMAsia MarApr 2025

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rawpixel.com December’s rise of three percent.
A separate index stripping out costs of both fresh food
and fuel, which is closely watched by the BoJ as a better
gauge of demand-driven inflation, rose 2.5 percent in January

from a year earlier the data showed.

CHINA
Decline in 2024 sawnwood imports
According to data from China’s Customs, 2024 sawnwood
imports totalled 26.74 million cubic metres valued at US$6.86
billion, a year-on-year decrease of four percent in volume but
Trend in machinery orders reverses direction an increase 0.3 percent in value on 2023.
The Cabinet Office has reported the total value of The average price for imported sawnwood in 2024 was

machinery sales, excluding those for ships and by electric US$257 per cubic metre, a year-on-year increase of four percent.
power companies, declined by 1.2 percent month-on-month Of total sawnwood imports, sawn softwood imports fell
in December 2024, the worst reading in four months. seven percent to 16.63 million cubic metres, accounting for
The latest reading also reversed the 3.4 percent growth 62 percent of the national total.
in November and defied market expectations for a slight 0.1 The proportion of sawnwood imports fell about three
percent gain. percentage points year-on-year. The average price for imported
Orders from the manufacturing sector dropped 10 percent sawn softwood was US$204 per cubic metre in 2024, up four

while non-manufacturing orders rose five percent. The biggest percent year-on-year.
falls were seen in industries such as mining, quarrying, real Sawn hardwood imports totalled 10.11 million cubic metres
estate, chemical products, information and communication valued at US$3.48 billion, a year on year increase three percent
electronics and pulp, paper and paper products. in volume and five percent in value in 2023.
On an annual basis, private-sector machinery orders The average price for imported sawn hardwoods was
increased 4.3 percent in December, slowing from a 10 percent US$344 per cubic metre, a year-on-year increase of two
surge in November. percent year-on-year.
In the period January-March 2025 the value of private Of total sawn hardwood imports, tropical sawn hardwood
sector machinery orders is forecast to fall. imports were 7.46 million cubic metres valued at US$2.14

billion, a year-on-year increase of eight percent in volume and
Inflation rising at the fastest pace in 19 months 11 percent in value and accounted for about 28 percent of
Government data shows core consumer inflation was recorded the national total, up three percentage points on 2023 level.
at 3.2 percent in January, rising at the fastest pace in 19 The average price for imported tropical sawn hardwood
months, adding to expectations that the Bank of Japan (BoJ) was US$287 per cubic metre, up three percent year on year.
will raise interest rates once again.
The year-on-year increase in the core consumer price index Reasons for decline in China's sawnwood imports

(CPI), which excludes fresh food prices, slightly exceeded a The main reason was the reduction in domestic demand.
median market forecast for a gain of 3.1 percent and followed China’s Real Estate Production Index increased from October