Exports of Southern Pine lumber (treated and untreated) continue to outpace 2023, up 15% through July, but were down 25% over June 2024 and down 12% over the same month a year ago, according to July data from the USDA’s Foreign Agriculture Services’ Global Agricultural Trade System.
This is the second straight month Southern Pine exports were down after reaching a three-year high of 59.7 Mbf in May and marks a five-month low.
Softwood imports, meanwhile, were down 1% in July over 2023 and down 5% over June.
When looking at the report by dollar value, Southern Pine exports between January and July 2024 are running 4% ahead of the same period in 2023 at $130.2 million, with Mexico leading the way at $38.5 million, followed by the Dominican Republic at $31 million, and India at $10 million. Treated lumber exports, meanwhile, are nearly flat over the year at $81 million led by Jamaica with $13.7 million, the Leeward-Windward Islands at $13.1 million, and the Dominican Republic at $6.5 million.
Our international consultants weighed in with the following thoughts on the July 2024 Southern Pine exports. Despite the five-month low mentioned above, the broader, longer-term picture remains the same: Caribbean markets have remained steady, exports to Europe continue to struggle, shipments to China continue to plummet because of prohibitive tariffs, exports to alternative Asian markets continue to grow, while India and Pakistan – both very new markets – are growing quickly for the SYP industry.
Here are their other key takeaways among countries reporting more than 1 Mbf of imports through July 2024:
- Mexico remains the largest export market (by volume) of Southern Pine and treated lumber, up 40% YTD over 2023 with 92.3 Mbf of imports.
- The Dominican Republic, the No. 2 importer of Southern Pine, is running 11% ahead of the same period last year with 58.5 Mbf. The July total of 4.4 Mbf is the lowest total so far in 2024.
- India’s total of SYP imports continues to trend upward, running 6% ahead of 2023 at 22.2 Mbf, led mostly by rough Southern Pine. The country did, however, post a four-month low of 2.6 Mbf in July.
- Exports to China continue to plummet, down 56% YTD compared to 2023 with8.6 Mbf of Southern Pine lumber imports.
- The following countries in the Caribbean and Central American region, outside of Mexico and the Dominican Republic mentioned above, have imported more than 1 Mbf through July 2024:
- Jamaica: the third-largest export market is up a slight 3% with 31.2 Mbf. The July total of 3.6 Mbf marks a four-month low.
- The Leeward-Windward Islands: up 2% YTD with 19.6 Mbf.
- The Bahamas: down 4% with 11.9 Mbf. The July total of 1.4 Mbf is the lowest total so far in 2024.
- Belize: up 30% YTD with 2 Mbf. The July total of 608 mbf marked a five-month low.
- Netherland Antilles: up 165% at 7.3 Mbf.
- Haiti: up 28% with 6.1 Mbf.
- Barbados: up 16% for the year at 5.9 Mbf.
- Trinidad and Tobago: down 8% with 5.8 Mbf.
- The Cayman Islands: up 48% over 2023 to 3.7 Mbf.
- Turks and Caicos: up 34% with 2.2 Mbf.
- Panama: up 409% to 2.2 Mbf. Panama posted a five-month high of 348 mbf in July.
When looking at countries that have imported more than 1 Mbf so far in 2024, here is what our consultants found:
Trending up:
- Canada: trending higher at 38% over 2023 with 16.1 Mbf so far this year.
- Pakistan: continues to rise, up 240% over the year to 8.9 Mbf, mostly supported by 5.8 Mbf of treated lumber imports.
- Colombia: up 18% over the year with 4 Mbf.
- Taiwan: up 27% with 3.7 Mbf.
- Philippines: up 23% with 2.3 Mbf.
- Vietnam: up 565% over the year to 2.6 Mbf.
- Egypt: up to 1.8 Mbf for the year, 7% ahead of the same time a year ago.
- France: up 369% to 1.7 Mbf
- United Kingdom: up 17% over 2023 with 1.2 Mbf.
Trending down:
- The Netherlands: down 48% on 2 Mbf year-to-date.
- French Pacific Islands: down 13% with 1.2 Mbf.
SFPA members: Don’t forget to check out the members-only site to get a full breakdown of every country’s import and export numbers for Southern Pine and treated lumber!
*Note: data are expressed in Million Board Feet (Mbf) unless otherwise indicated.