India: Market for Saw Logs And Veneer Logs (Non-Coniferous) 2024

Market Size for Saw Logs And Veneer Logs (Non-Coniferous) in India

The Indian market for saw logs and veneer logs (non-coniferous) fell modestly to $X in 2022, which is down by -3% against the previous year. In general, consumption saw a slight shrinkage. The most prominent rate of growth was recorded in 2017 when the market value increased by 8.1% against the previous year. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Saw Logs And Veneer Logs (Non-Coniferous) in India

In value terms, production of saw logs and veneer logs (non-coniferous) declined slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 10% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Saw Logs And Veneer Logs (Non-Coniferous)

Exports from India

In 2022, approx. X cubic meters of saw logs and veneer logs (non-coniferous) were exported from India; reducing by -81.8% against the previous year. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 2,903%. As a result, the exports attained the peak of X cubic meters. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of saw logs and veneer logs (non-coniferous) dropped remarkably to $X in 2022. Overall, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 1,696%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X cubic meters) was the main destination for exports of saw logs and veneer logs (non-coniferous) from India, with a 66% share of total exports. Moreover, exports of saw logs and veneer logs (non-coniferous) to China exceeded the volume sent to the second major destination, the United Arab Emirates (X cubic meters), fivefold. Qatar (X cubic meters) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +52.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+134.7% per year) and Qatar (+74.5% per year).

In value terms, China ($X) remains the key foreign market for saw logs and veneer logs (non-coniferous) exports from India, comprising 60% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 26% share of total exports. It was followed by Singapore, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+131.6% per year) and Singapore (+17.8% per year).

Export Prices by Country

The average export price for saw logs and veneer logs (non-coniferous) stood at $X per cubic meter in 2022, growing by 29% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for saw logs and veneer logs (non-coniferous) increased by +42.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 42% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per cubic meter), while the average price for exports to Qatar ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Saw Logs And Veneer Logs (Non-Coniferous)

Imports into India

In 2022, the amount of saw logs and veneer logs (non-coniferous) imported into India fell remarkably to X cubic meters, waning by -40.5% compared with the year before. Overall, imports faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 47% against the previous year. Imports peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of saw logs and veneer logs (non-coniferous) shrank markedly to $X in 2022. Over the period under review, imports faced a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X cubic meters), Solomon Islands (X cubic meters) and Papua New Guinea (X cubic meters) were the main suppliers of imports of saw logs and veneer logs (non-coniferous) to India, together accounting for 48% of total imports. Suriname, Belgium, Singapore, Ghana, Germany, Ecuador, France, the United States, Cameroon and Myanmar lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +60.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of saw logs and veneer logs (non-coniferous) to India, comprising 38% of total imports. The second position in the ranking was held by Solomon Islands ($X), with a 12% share of total imports. It was followed by Papua New Guinea, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled -9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Solomon Islands (+13.4% per year) and Papua New Guinea (+4.3% per year).

Import Prices by Country

The average import price for saw logs and veneer logs (non-coniferous) stood at $X per cubic meter in 2022, dropping by -4.6% against the previous year. Overall, the import price saw a slight decrease. The pace of growth appeared the most rapid in 2013 when the average import price increased by 170%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per cubic meter), while the price for Belgium ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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