Pará’s Timber Exports Decline in 2024 but Show Resilience in High-Value Products
Nov, 26, 2024 Posted by Gabriel MalheirosWeek 202445
Timber and timber product exports from Pará State experienced a downturn in the first ten months of 2024. According to data compiled by the Pará State Association of Timber Export Industries (Aimex), based on reports from the Ministry of Development, Industry, Commerce, and Services (MDIC), the export value decreased by 7.12%, totaling USD 180.92 million FOB. The volume exported also dropped by 7.30%, amounting to 207.38 million kilograms compared to the same period in 2023.
In October alone, Pará’s timber and derivative exports reached USD 17.81 million FOB and 17.84 million kilograms, representing a decline of 12.72% in value and 51.86% in volume compared to September. However, the average price per ton rose sharply by 34.72%, reaching USD 998.40 FOB/ton.
Despite the overall decline, profiled timber (NCM 44.09) stood out with growth in both value and volume. This high-value-added product accounted for 70.40% of Pará’s total timber exports, amounting to USD 127.39 million FOB. The United States was the primary destination, purchasing 53.81% of this total, equivalent to USD 68.55 million FOB.
The U.S. remained Pará’s top trading partner in the timber sector, accounting for 42.27% of total exports, or USD 76.48 million FOB, between January and October 2024. This performance reflects the U.S. economic recovery, bolstered by the Federal Reserve’s interest rate cuts since September, which have spurred new housing construction and increased consumption—two sectors driving significant timber demand.
Industry Insights
According to Aimex technical consultant Guilherme Carvalho, Pará’s timber export data presents an ambiguous picture. “While we observed a decline in export value and volume—down 7.12% and 7.30%, respectively, in the first ten months of 2024—the performance of certain products demonstrates resilience,” Carvalho noted.
“The highlight is profiled timber, which, with its higher added value, showed growth. This product is increasingly valued in international markets, particularly in the U.S., which remains the primary destination for Pará’s timber exports, absorbing over 50% of exported profiled timber,” he added.
Carvalho emphasized the significance of the 34.72% increase in the average price per ton despite the overall decline in October exports. “This price appreciation reflects a market dynamic where reduced export volumes can still yield higher financial returns.”
He also pointed out the sector’s adaptability in navigating global economic challenges while seizing opportunities. “The U.S. economic recovery and interest rate cuts by the Federal Reserve should continue to positively impact timber consumption, essential for construction and consumer sectors. Despite the challenges, Pará’s timber sector remains competitive and has potential for recovery in the coming months, provided it stays aligned with demand trends and the strengthening global economy,” Carvalho concluded.
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