Despite the pandemic, Vietnam’s wood and wood product exports (W&WP export) in the first four months of 2021 grew with more than 50%. At the current rate of growth W&WP exports for 2021 could be as high as USD5-billion.
Meanwhile Vietnam’s wood-pellet exports in the first three months of 2021 reached 751 000 tonnes worth USD84.6-million, 9.7% up in volume and 15% up in value over the same period of 2020. The export price of wood pellet in the first three months of 2021 stood at USD112.7 per tonne, up 4.8% over the same period in 2020.
According to Vietnam’s Ministry of Industry and Trade in the period 2016–2020 the world wood pellet trade expanded rapidly with an average growth rate of 14% per year. In 2020, global wood pellet imports are estimated at USD4.55-billion, up 3.8% compared to 2019 and up 65.6% compared to 2016.
In 2020 the UK was the largest consumer of wood pellets with an import value accounting for around 38% total world trade in pellets. Other major consumers were Denmark, Italy, Korea and Japan. In 2020 Vietnam’s wood-pellet exports accounted for 7% of the total world trade value of wood pellets. In the first 3 months of 2021 almost all wood pellets (99.6%) produced in Vietnam were exported to South Korea and Japan. Exports to South Korea reached 444 000 tonnes worth USD44.09-million, up 2.6% in volume and 7.1% in value against the same period in 2020.