RoK and Japan become largest importers of Vietnamese wood pellets
VOV.VN - The Republic of Korea (RoK) and Japan have become the two largest importers of Vietnamese wood pellets, consuming more than 95% of Vietnam’s total export volume of the product, according to the Vietnam Timber and Forest Product Association.
During the opening five months of the year, Vietnamese wood pellet exports to Japan reached 0.87 million tonnes worth US$151 million, down 5.7% in volume but up 19.7% in turnover against the same period from last year.
Meanwhile, due to market fluctuations in the RoK, the export volume of wood pellets to this market fell 41% to 0.65 million tonnes valued at US$96.1 million, down 45% year on year.
Statistics show the export price of the product in the RoK market in June stood at only US$110 per tonne, while the price in the Japanese market ranged from between US$145 and US$165 per tonne.
To Xuan Phuc, an expert of Forest Trends, predicted that the demand for wood pellets in Japan would increase in the coming time, opening up fresh opportunities for Vietnamese businesses with stable input materials, sustainable certifications, and large-scale production plants.
In addition, due to the impact of the energy crisis as a result of Russia-Ukraine conflict, the export volume and prices in the RoK market are likely to increase in line with the current momentum, while the export volume and prices remain stable in the Japanese market.
Currently, Vietnam is the second largest wood pellet producer in the world, after the United States. From 2013 to 2022, the export volume and value of Vietnamese wood pellets increased by 28 times and 34 times, respectively.
According to the General Department of Vietnam Customs, the country’s export volume of wood pellets reached 1.57 million tonnes worth about US$256.5 million during the five-month period.
