Hanoi -China was the largest market for wood chip exports in Vietnam in 2023.

In 2023, Vietnam exported wood chips to 13 markets. China, Japan, and South Korea were the country's three major markets for wood chip exports. In 2023, Vietnam exported over 9.38 million tons of wood chips to the Chinese market, with a value exceeding $1.43 billion, accounting for 65.1% of the export volume and 64.7% of the export value. The average export price of wood chips to the Chinese market declined from around $183-185 per tonne at the beginning of the year to less than $140 per tonne by the middle of the year, followed by a slight increase in the subsequent months, but remaining stable and below $150 per tonne.

The second-ranking market was Japan. The price of wood chips decreased by $36 per tonne last year. Specifically, the export price to the Japanese market was $181 per tonne in January, but dropped to $145 per tonne by December. The export volume of wood chips to the South Korean market reached 548,590 tons, with a value of $91.88 million, accounting for 3.8% of the export volume and 4.1% of the export value. Similar to the Japanese and Chinese markets, the export price to South Korea decreased by $27 per tonne last year, with significant fluctuations throughout the year. The average export price in January 2023 was $200 per tonne, but it continued to decline, reaching a low of $136 per tonne before rebounding to $172 per tonne in the last few months of the year. The Vietnam Timber and Forest Products Association stated that the demand for imported wood chips in the Chinese market is expected to continue to decline in the near future, leading to a decrease in export prices.

Overall, the structure of the wood chip export market is expected to remain relatively unchanged in the near future. However, the wood chip industry will continue to compete with the particle board industry in terms of raw materials, especially in the northern provinces, where plantation forests are the primary input for both industries. Therefore, companies and management organizations need to consider investing in the construction of raw material sources to ensure a stable supply for production and export.

(source: globalwood.org)