January 2024 Southern Pine exports (treated and untreated) were up 18.8% over December and started the year up 1.4% over January 2023, according to January data from the USDA’s Foreign Agriculture Services Global Agricultural Trade System. Softwood imports, meanwhile, were down 2.8% over December and down 9.6% over 2023.
Our international consultants weighed in with the following thoughts on the January 2024 Southern Pine exports.
From a longer-term perspective, exports are expected to slightly recover this year, with the exception of China because of tariffs. Looking forward on the trade policy front, the European Union Deforestation Regulation (EUDR) poses long-term risk of sales to Europe, while trade facilitation negotiations with the Indo-Pacific region and Taiwan could lead to opportunities for sales to that region.
Here are their other key takeaways among countries reporting more than 1 Mbf of imports:
- Mexico retained its status as the largest export market (by volume) of Southern Pine and treated lumber, even though it started the year down 6% compared to January 2023 with 8.7 Mbf.
- The Dominican Republic, the No. 2 importer of Southern Pine, started the year with 7.5 Mbf, up 2% over a year ago.
- India’s total of SYP imports started 2024 strong with a 175% surge to 3.5 Mbf in January compared to 1.3 Mbf a year ago. India has imported more than 1 Mbf every month since January 2023.
- Exports to China continued to follow a cooling trend that started in June 2023 with only 982 mbf in January 2024.
- The only countries in the Caribbean and Central American region to import more than 1 Mbf in January, outside of Mexico and the Dominican Republic mentioned above, were:
- The Leeward-Windward Islands: up 21% with 2.96 Mbf.
- Haiti: while the island nation had zero imports a year ago, posted 1.1 Mbf in January.
- Jamacia: up 3% over the year with 1.6 Mbf.
- The Bahamas: down 8 % with 1.6 Mbf.
SFPA members: Don’t forget to check out the members-only site to get a full breakdown on every country’s import and export numbers for Southern Pine and treated lumber!
*Note: data are expressed in Million Board Feet (Mbf) unless otherwise indicated.