Hanoi (VNA) -Vietnam's people familiar with the matter said that Vietnam's exports of wood and wood products to the United States surged this year, but enterprises need to choose appropriate key markets to enter this major market.
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in the first nine months of 2020, the export volume of timber and forest products was 8.97 billion US dollars, up 12% year on year. According to the Vietnam Forestry Bureau of the Ministry of Agriculture and Rural Development, the income includes wood and wood products worth 8.38 billion US dollars, up.
The increase in the export of timber and wood products to most large markets such as the United States, China, the Republic of Korea, Canada and Australia has been recorded. It is worth mentioning that in the first eight months of this year, U.S. exports to the United States exceeded 4.19 billion U.S. dollars, up year on year. Statistics show that this market accounts for of the total exports of wood and wood products, up 7.2 percent age points year on year.
Vietnam timber and Forest Products Association (Vifores) pointed out that so far this year, although the export of office and bedroom furniture has declined compared with the same period last year, but overseas shipments of kitchen and bathroom furniture are increasing. Vifores chairman Do Xuan Lap explained that commodities with strong export growth benefited from the anti-dumping and countervailing duties imposed by the United States on Chinese commodities, which encouraged American companies to turn to Vietnam to partially make up for the supply shortage.
Nguyen Liem, chairman of the board of directors of Lam vet JSC, said that COVID-19 promoted the sales of wood industry, especially kitchen cabinets and bathroom cabinets, because people spent more time at home in the epidemic, therefore, the demand increases for house maintenance and furniture. He said that Vietnam's timber industry currently has many advantages in the American market, but the risk is relatively high, because it is a huge market, severe actions were taken against tax evasion and trade fraud. Exports of wood and wood products are expected to reach 12.5 billion dollars this year, thanks to the sharp increase in sales to the United States and the arrival of the export peak season in the last few months of this year.
Lap said that kitchen cabinets and bathroom cabinets are strategic products of the industry for some time to come. From January to September, they created export turnover of nearly 1 billion dollars, an increase of more than 80% year on year. He added that during the peak of the COVID-19 outbreak, the supply chain of these items was not disturbed.
However, chairman Vifores believes that the actions of enterprises have not cooperated with each other, which indicates that they have fine-tuned their strategies and improved their competitiveness in joining the supply chain, thus exporting more products to the United States. Lap suggests that instead of manufacturing many products at a time, it is better to focus on some demand projects. A sub-Association of kitchen cabinets, bathroom cabinets and decorative boards will be established in November Vifores to form a wide network of strategic commodity producers, thus providing products for the strategic market.
(Source: mushang WoodTrader)
(Article Source: Wood network-public number, invasion and deletion)
