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Plywood imports down 5.9% in 2022

Australia’s imports of plywood declined 5.9% in 2022, falling back to 431,026 m3. While several grades experienced increases, the steep recent falls in the combined Other and Exterior grades appear to have driven imports lower.

The chart below displays the import experience, other than for plywood-backed material like that used for flooring, wafer, batten and other board products that are mingled into traditional plywood definitions.

Australian Plywood Imports: Nov ’20 – Dec ’22 (m3 & AUDFob/m3)

Source: ABS & IndustryEdge

 

M3

Interior

Structural

Overlaid

Other & Exterior

Total

2021

44,087

9,412

163,582

240,988

458,069

2022

44,653

10,506

184,247

191,619

431,026

% Change

1.3%

11.6%

12.6%

-20.5%

-5.9%

 

A further potential driver for the decline in imports is the weighted average import price for each grade is up between 18% and 33%, as the table below shows. It is possible that with reasonable inventory levels, some importers are sitting out of the market, waiting for the price to cool before re-engaging.

 

AUDFob/m3

Interior

Structural

Overlaid

Other & Exterior

Weighted Ave

2021

                  716

                  919

                  933

                  761

                  821

2022

                  856

               1,226

               1,102

                  897

                  988

% Change

19.6%

33.4%

18.1%

17.8%

20.3%

 

Examining countries of origin for all material (including the products excluded from the above), we can see the unsurprising role that China plays in the plywood market in Australia.

Imports of Plywood by Main Country: 2022 (‘000 m3)

Source: ABS & IndustryEdge

 

Posted Date: February 26, 2023

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