Record 61 percent and 126 percent increase in the value of lumber and veneer exports respectively.
Total exports of U.S. hardwood lumber and veneer to India reached a value of USD 5.04 million in 2017, accordin to the American Hardwood Export Council (AHEC). The statistics, which have been compiled from the latest data released by the United States Department of Agriculture (USDA), were announced during INDIAWOOD.
Confident of growing demand in India and the need for alternative hardwood species, AHEC participated at the show with an American hardwood pavilion, which includes seven U.S.-based hardwood and veneer exporters, who are all looking to sell into India.
A closer look at the numbers reveal that the total volume of hardwood lumber shipped from the United States to India increased by 33 percent to 2,365 cubic meters and by 61 percent in value to USD 1.81 million in 2017. At the same time, direct exports of American hardwood veneers to the market increased by a substantial 126 percent over 2016 to reach USD 3.23 million. While the overall volumes remained low, this does hint at the beginnings of genuine upswing in demand for KD lumber from what has been traditionally a log-focused market.
In fact, India’s imports of hardwood logs from the United States decreased by 23 percent in volume last year to 5,705 cubic meters. Overall, the species mix exported to India in 2017 broadened and increases were seen in shipments of all major species in hardwood lumber, with the exception of red oak, which was predominantly shipped to the market in log form.
“According to a study by the World Bank, India’s organized furniture industry is expected to grow 20 percent per annum over the next few years and is projected to cross USD 32 billion by 2019. In addition, the ‘Make in India’ campaign is well on its path towards turning the country into a haven for investment and a propeller for economic headway, all of which spurs greater confidence in the future for American hardwoods in India. This will be the first time AHEC has participated in a show in India with a pavilion since 2012 and we firmly believe that the timing is right for American hardwoods in India and that genuine opportunities for business now exist. We anticipate that there will be a significant amount of interest from visitors in the American Hardwood Pavilion and that the U.S. companies taking part in the show will find it to be very worthwhile,” concluded Roderick Wiles, AHEC Regional Director.