Wood chip exports surpass USD 1 billion in seven months

Vietnam exported 8.5 million tons of wood chips in January-July, earning the wood sector USD 1.08 billion, an increase of 22.9 percent in volume and 17.1 percent in value year on year.

In July, both the volume and value of exports decreased inter monthly, with the former falling 17 percent to 1.03 million tons and the latter dropping 15.3 percent to USD 135 million.

China, Japan, and South Korea were Vietnam's three biggest importers of wood chips. In the first seven months of the year, wood chips shipped to these three destinations accounted for 98 percent of total wood chip exports.

China is the largest market, accounting for 67percent of total sales, followed by Japan and South Korea, which account for 28percent and 3 percent, respectively.

China bought 5.73 million tons of wood chips from Vietnam in the first seven months of the year, totaling USD 743 million, an increase of 21percent over the same time last year. However, export volume and value both fell in July 2021 compared to the previous month, with volume reaching 595 thousand tons, down 31.7 percent, and value reaching USD 80 million, down 29.2 percent.

For the Japanese market, 2.34 million tons of wood chips were imported from Vietnam in the first seven months of 2021, totaling USD 283 million, an increase of 36.9 percent in volume and 27.5 percent in value over the same period in 2020. In July 2021, the number of woodchips shipped to Japan was 376 thousand tons, valued at USD 45.97 million, rising by 2.29 percent in volume and 25.1 percent in value.

In terms of the South Korean market, 271 thousand tons of wood chips from Vietnam were imported in the first seven months of 2021, totaling USD 36 million, an increase of 18.57 percent in volume and 13.3 percent in value over the same time last year. Exports to South Korea fell by 23.9 percent in volume and 15.5 percent in value in July 2021, reaching just 40.04 thousand tons, or USD 6.20 million.