Japan to Import More Logs, ITTO Predicts
11/15/99
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Title: JAPAN to Import More Logs, ITTO Predicts
Source: Environment News Network, http://www.ens.lycos.com/
Status: Copyright 1999, contact source for permission to reprint
Date: November 15, 1999
YOKOHAMA, Japan, November 15, 1999 (ENS) - The International Tropical
Timber Organization (ITTO) is predicting a rise in both log and
plywood imports for the Japanese market.
In its short term forecast for forest products imports during the 4th
quarter of 1999, the ITTO data shows expanding imports of Russian
logs, European lumber, North American lumber and plywood, while logs
from North America fail to increase.
Radiata pine products from New Zealand and Chile, as well as imports
of South Pacific hardwood products are forecast to decline.
Imports of two items, Russian logs and European lumber have shown
significant increases. Russian log imports will be 5,871,000 cubic
meters -- some 30.7 percent higher than in 1998.
The ITTO suggests this increase may have been prompted by low log
inventories in Japan at the end of 1998 which could have induced
active buying by the Japanese and an increase in larch log imports as
a result of improved plywood market.
Another possible factor includes a devalued ruble that may have
motivated Russian log suppliers to export more.
European lumber imports topped 1.8 million cubic meters, up 69
percent compared to 1998.
North American log imports showed only a two percent increase in both
demand and supply. Inventories of North American lumber are down
while demand is reported as recovering.
The total supply of plywood is forecast to be 7.9 million cubic
meters, or 10 percent higher than in 1998. he domestic supply
forecast is unchanged, but imports are currently 4,697,000 cubic
meters, some 200,000 cubic meters more than initially projected. This
is the major reason for stagnant plywood market, the ITTO suggests.
An inventory correction is in progress and should be complete by the
year end.
Demand for domestic softwood plywood by major house builders
continues strong, the ITTO reports.