US demand for Vietnamese wood exports up in 1st 2 months of 2013
US demand for Vietnamese wood exports up in 1st 2 months of 2013
Vietnam earned US$831-M from wood-based exports in the 1 st 2 months this year, an increase of 36.2% compared to the same period last year, according to the Vietnamese Ministry of Agriculture and Rural Development.
Demands for Vietnamese wood exports have increased so far this year. Specifically, orders of Vietnamese wood and forest products from the United States during the period were estimated to reach nearly US$1.7-B almost the same to last year’s total turnover, according to the Vietnam Timber and Forest Product Association Friday.
Meanwhile, the Handicraft and Wood Industry Association of southern Ho Chi Minh City forecast that wood product exports to the US this year would rise by 18%, while those to the EU market would rise by 8 to 10%, to China up 15% and Japan + 11 to 12%.
Director of the Forest Management Department under the Ministry of Agriculture and Rural Development Nguyen Huu Dung, said that import markets would become stricter about the legality of raw materials, urging domestic enterprises to move to meet the requirements of relevant international trade policies such as the US Lacey Act and the EU’s FLEGT.
Last year, Vietnam took in US$4.9-B from wood based exports, + 17.6% Y-Y, according to the General Statistics Office.
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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