Hardwood import volumes shot up by 30% in Q1 2022 as compared to the same period in 2021 – the highest Q1 import volumes seen for this market during this century.
This growth in hardwood import volumes was largely driven by lower-priced temperate hardwoods from Latvia which saw a 15% rise in volumes compared to Q1 2021.
French oak also experienced considerable increases where imports more than doubled to reach 21,300 m³, accounting for 41% of all oak imports.
Overall oak import volumes grew by 38% and their value by 45% in Q1 2022, as compared with Q1 2021. In addition to France, significant growth also came from lower-priced oak imports from Romania, which matched volumes from Italy.
While Europe continues to dominate the market as the source for 75% of hardwood imports by volume, the North American share has fallen as Africa, Asia, and Central and South America increased their slice of the market.