Canada-to-US Lumber Imports Drop 16% YOY in Q1 2017

Canada-to-US Lumber Imports Drop 16% YOY in Q1 2017

According to figures from the US Department of Agriculture’s Foreign Agriculture Service, the USA imported 8.456m m3 of softwood lumber from Canada, which amounts to a 16% reduction against last year’s volume in the first quarter.

While January’s import volume was slightly higher year-over-year at 1.6%, reductions of 30% and almost 15% were recorded in February and March, respectively. The value of Canadian softwood lumber rose by 15% to $1.418 billion, and the value per unit rose to 36% to $167.7/m3.

On the export side, the USA’s softwood lumber exports totaled 782,448 m3 for the first quarter, or 4% below the figure recorded in the first quarter of last year. EUWID attributes this drop to the 18% reduction in lumber exports to Asia, which includes a 15% reduction in exports to China and a 23% reduction in exports to Japan. South American exports rose by 10% over the same period, while Canadian exports rose by 6%.