Malaysia to address the timber shortage with US, and UK

Posted on May 23, 2022   |  

• The sanctions on Russian timber products imports to the U.S.led to American importers looking for alternative sources of material, especially plywood.
• The Malaysian timber industry performed well despite the Covid-19 pandemic and economic aftermath, with exports increasing by 3.1% to RM22.7 billion in 2021 from RM22.02 billion in 2020 due to which the US is positive on Malaysian timber as the demand for Meranti wood and Keruing sawn timber grew by 9% and 47% respectively.
• However, shipments from Malaysia are slow as the shortage of logs from the natural forest left Malaysian sawmills struggling to fulfill the increasing demands and orders.
• Exporters also have to cope with logistical constraints such as heavy port congestion, lack of containers, and inadequate vessel space.
• The UK’s import volume of timber products in 2021 grew by 15% which is the largest volume of imports seen since 2008, despite significant market troubles.