U.S. Log Exports Posted Heavy Decline in Q1

SEATTLE (Scrap Monster): The latest trade statistics published by the United States Department of Agriculture (USDA) hints at notable decline in log export volume and value of exports during the first three-month period of the current year. The log exports from the country totaled 2.1 million cubic metres during this period, significantly lower by 33.2% when compared with the previous year. The total value of log exports too recorded sharp decline by 28.4% to $469.8 million during the initial quarter of 2019.

According to USDA data, the U.S. log exports to Canada totaled 469,300 cubic metres, significantly lower by nearly 49% when matched with the corresponding quarter in 2018. Meantime, the log supplies to Canada averaged at $224 per cubic metre, surging higher by almost 127% year-on-year. As a result, the value of log exports edged higher by 16.2% over the previous year to total $105 million. Canada accounted for 22.7% of all log exports by the U.S. during Q1 2019.

The other key export destinations were China, Japan and South Korea. The log exports from the U.S. to China tumbled by almost 35% to 910,300 cubic metres, recording almost 45% drop in export value. Meantime, the log exports to Japan registered 11.4% decline to 441,200 cubic metres. On the contrary, exports to Korea surged higher by approximately 14% to total 89,300 cubic metres.