Vietnam ranks second globally for wood pellet exports
VOV.VN - Vietnam has emerged as the world’s second largest exporter of wood pellets, one of the most crucial export items of the domestic wood industry, according to details given by the Vietnam Timber and Forest Products Association.
The country earned US$354 million from exporting approximately 2.4 million tonnes of wood pellets in the first half of the year, and it aims to raise the export value for the whole year to roughly US$700 million.
Wood pellets are anticipated to enter the group of agro-forestry products which boast an export turnover of over US$1 billion in the coming years.
To Xuan Phuc, senior policy analyst at Forest Trends, noted that the export volume and value of pellet exports have increased steadily since October 2021. Most notably, the export price of the item also soared to reach an average of nearly US$150 per tonne, up more than 27% compared to the average price recorded last year.
The sharp rise in the export volume and price can be attributed to the sudden increase in demand from the EU market as a result of the ongoing Russia-Ukraine conflict.
Experts said there remains ample room ahead to boost exports of wood pallets in the coming time, particularly as the majority of Vietnamese wood pallets are exported to Japan and the Republic of Korea.
However, Phuc said the industry faces numerous challenges, including a shortage of input materials and stringent requirements imposed by foreign importers such as sustainability certifications for wood pellets.
He therefore recommended that Vietnamese businesses actively grasp market information and prepare to meet strict requirements in order to penetrate demanding markets globally in the future.