Sarawak timber exports earnings down 23.5%

KUCHING: Sarawak’s foreign exchange earnings from the monthly exports of logs and timber products have dropped substantially to RM210.4 million in August 2024 from RM274.8 million in July, or down by RM64.4 million or 23.5 per cent, mainly because there were no sales of woodchips and wood pellets for the month.

Besides, the export revenue from logs and sawn timber had also fallen substantially due to their reduced shipment volumes month-on-month.

In July, Sarawak earned about RM23.52 million from the exports of 40,072 tonnes of woodchips and about RM18.1 million from the exports of 23,720 tonnes of wood pellets. In August, no exports for both woodchips and wood pellets were reported, according to the latest preliminary monthly export data released by Sarawak Timber Industry Development Corporation (STIDC).

In August, logs export shrank to about 39,842 cubic metres (cu m) worth RM32.55 million (free on board value), down from 47,675 cu m valued at RM40.35 million recorded in July. The entire export shipments for the month under review went to India.

In the first eight months of 2024 (8m2024), Sarawak exported 334,771 cu m of logs worth RM273.57 million. India paid RM260.27 million for 320,058 cu m, followed by Taiwan which absorbed 8,011 cu m (RM7.76 million) and Japan 6,703 cu m (RM5.54 million).

The STIDC figures revealed that Sarawak increased the exports of plywood to 56,195 cu m valued at RM120.64 million in August (July: 54,215 cu m worth RM119.5 million). As usual, Japan was the largest export destination, which imported 51,339 cu m for RM111.1 million.

Yemen, which maintained its top 2 position in buying Sarawak’s plywood this year, did not, however, record any imports in August.

Taiwan paid RM4.79 million for the imports of 2,759 cu m of plywood from Sarawak last month.

In 8m2024, Sarawak earned RM949.9 million from plywood exports, with top buyer Japan paying RM781.7 million for 339.62 cu m. Yemen imported 43,873 cu m for RM80.13 million and Taiwan purchased 21,852 cu m for RM39.48 million during the same period.

Month-on-month, Sarawak’s sawn timber export plunged to 3,094 cu m (RM4.88 million) from 9,821 cu m (RM13.63 million) in July.

Yemen which has been the largest buyer this year, did not import any sawn timber from Sarawak in August. Despite that, Yemen still ranked top, with imports of sawn timber worth RM21.34 million in 8m2024 from Sarawak. This was followed by Taiwan and the Philippines which paid RM17.68 million and RM16.77 million respectively for the imports from Sarawak.

Last month, Sarawak also reported a decline in the export volume of fibreboard to 12,175 cu m worth RM28.83 million as compared to 14,410 cu m valued at RM34.69 million in July. Japan was the biggest importer of fibreboard, paying about RM17.2 million (7,083 cu m), followed by the Philippines with imports of 3,310 cu m for RM7.55 million for the month. In 8m2024, Japan had imported 80,067 cu m of fibreboard worth RM189 million from Sarawak.

In August, the exports of laminated board/flooring earned Sarawak RM7.15 million in revenue but this was lower as compared to RM7.69 million recorded in July due to lower volume exported. The United States was the biggest importer of Sarawak’s laminated board/flooring, paying RM6.79 million for the month, bringing to total about RM38.2 million it had paid for the purchase of 4,985 cu m in 8m2024. During the period, Sarawak exported 5,842 cu m of the product worth RM41.46 million.

Last month, Sarawak significantly increased the exports of door panels & frames to RM3.13 million (July: RM1.05 million) and Japan was the sole importer for the product. In 8m2024, Sarawak’s total export of door panels & frames amounted to RM20.27 million, with Japan accounting for RM19.99 million. 

Other timber products exported by Sarawak in August were doorskin worth RM2.66 million (July: RM4.66 million), veneer RM1.92 million (RM2.32 million), particleboard RM669,854 (RM825,099) and mouldings RM497,924 (490,239).

Last month, Sarawak exported RM5.17 million worth of furniture & furniture parts (July: RM5.45 million) mainly to Japan and the US.