2019-07-24 10:44:18
Global trade of wood pellets jumped more than 21 per cent year-over-year in 2018 when a new record of 22.3 million tons was shipped, according to the North American Wood Fiber Review (NAWFR).
The five major pellet-exporting countries (the U.S., Canada, Vietnam, Latvia, and Russia) have remained the top exporters for over five years. They accounted for about 69 per cent of the world’s export volume in 2018. Pellet production in the U.S. South continued at record pace, driven by a European move towards renewable energy. From the 1Q/18 to the 4Q/18, exports from the region were up almost 50 per cent, further manifesting the U.S.’s role as the world’s largest producer and exporter of wood pellets, reports the NAWFR.
Demand for imported pellets in Japan and South Korea continued a three-year growth trend in the 4Q/18 when import volumes reached new record highs of 339,000 tons and 993,000 tons, respectively.
In 2018, the total annual import volume for the two countries was just over 4.5 million tons, more than doubling in just two years. Prices for pellets landed in both Japan and South Korea have moved upward over the past three years.
– Wood Resources International LLC
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