NEWS

The home-building and renovation boom could keep wood demand strong for the next ten years, says Weyerhaeuser CEO Devin Stockfish. While he expects years of strong demand, he believes the current price frenzy is not sustainable. This is supported by the recent construction of new sawmills and the expansion of capacity in existing sawmills.

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Illegal timber makes up between 15% to 30% of the global wood trade. China is a major buyer of the world's illegal wood, according to research by environmental NGOs. More than 90% of wood exports from Papua New Guinea, Solomon Islands, Tonga, and Vanuatu are shipped to China.

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What hardwood was used in the aft main shaft strut bearings for USS Nautilus (SSN-571), the world's first nuclear-powered submarine?

Hint: It's the same hardwood used to craft Pete Seeger's famous banjo.

Answer: Lignum vitae, known for its unusual combination of strength, toughness, and density.

Decorative Hardwoods Association (formerly HPVA) eNews Volume XIV, Issue XII: Vietnam's Wood Exports Continue To Soar | Guitar Industry Struggles With Hidden Environmental Issues | Regulation Is Now $93,870 Of A New Home's Price | Tariffs Double On Canadian Lumber | 22 States End Federal COVID-19 Unemployment Benefits

Photo © Quangpraha/123RF.com

Vietnam's Ministry of Agriculture and Rural Development reports that the export value of wood and wood products has reached $6.6 billion in the first five months of this year - a whopping 61.3% increase vs. last year. Nearly 85% of the total value of Vietnam's wood and wood products exports is shipped to just four countries: the U.S., China, Japan, and South Korea.

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