Southern Pine Lumber Exports Reach Three-Year High in May

SEATTLE (Scrap Monster): A closer look at the latest data from the USDA’s Foreign Agricultural Services’ Global Agricultural Trade System, with additional analysis provided by the Southern Forest Products Association (SFPA), reveals that exports of Southern pine lumber, both brite stock and treated, hit a three-year high of 59.7 MMBF in May, just shy of the record high 60.3 MMBF recorded in October 2021. The SFPA points out that this is only the third time monthly exports have surpassed 50 MMBF since October 2021.

Southern pine lumber exports, which were up 28% from April and up 31% from May 2023, are running 15% ahead of 2023 year-to-date. On the other hand, softwood imports were nearly flat versus April but down 4.2% versus May 2023.

The SFPA’s international consultants found most of May’s gains were in the Caribbean, although Mexico, Pakistan, and a few other countries were strong as well.

Other highlights include the following:

• Mexico remained the largest export market (by volume) of Southern pine and treated lumber, up 34% year-to-date with 64.4 MMBF of imports.
• The Dominican Republic, the second largest importer of Southern pine, is running 25% ahead of the same period last year with 47.3 MMBF.
• India’s total of SYP imports slowed in May but are still running 3% ahead of 2023 year-to-date at 16.1 MMBF.
• Exports to China continue to slide, down 59% year-to-date compared to 2023 with 5.9 MMBF of Southern pine lumber imports.

The following countries have imported more than 1 MMBF through May:

• Pakistan: up 453% over the year
• Colombia: up 42% over the year
• Canada: up over 55% over the year
• Taiwan: up 42% over the year
• Philippines: up 60% over 2023
• Egypt: up 4% over the year
• Netherlands, down 31% over the year
• Panama, Vietnam, and France

 Courtesy: www.getfea.com