COVID Outbreaks Paralyze Chinese Ports

The lines of container ships waiting outside Chinese ports continue to grow as recent COVID-19 outbreaks threaten to cause yet another wave of shocks to global supply. China is experiencing its biggest spike in COVID-19 infections since the initial outbreak in Wuhan in 2020.

 

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Vietnam Sets Target To Double Its Timber Exports By 2025

Vietnam has set an aggressive target: to reach $20 billion in total timber exports by 2025, an increase of more than $9 billion. By 2030, Vietnam expects to reach a total export value of timber and forest products of $25 billion.

 

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The Star: Vietnam targets US$20bil in timber exports by 2025

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Expect European Production Of Wood Products To Decline

The trade of logs and lumber in Europe will change dramatically as Central European timber harvests decline and sanctions against Russia result in a sharp drop in imports of forest products, states Wood Resources International. Another important factor: the spruce bark beetle outbreak across Europe over the past four years resulted in increased harvesting.

 

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War In Ukraine Causes Confusion In Wood Supply Chain

The Russian log export ban and its war with Ukraine have wreaked havoc on the wood supply chain. Russia possesses 20% of the world’s trees but is now harvesting only 30% of its designated "production forests."

 

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Timber Focus: How Will The War Between Russia And Ukraine Affect The UK Wood Supply?

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UK Adds Tariffs To Russian Wood Products

The United Kingdom has announced additional import tariffs of 35% on Russian and Belarusian wood products. The initial list of goods affected by the increase, which came into effect on March 25, is worth nearly $1.2 billion.
 

 

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