American Hardwood Export Council (AHEC) has informed that exports of US hardwood lumber and veneer to India reached a value of $ 5.04 million in 2017. The statistics, which have been compiled from latest data released by United States Department of Agriculture (USDA), were announced during the the opening of Indiawood exhibition in Bengaluru last week. AHEC is the international trade association for the American hardwood industry,
A closer look at the numbers reveals that the volume of hardwood lumber shipped from the United States to India increased by 33% to 2,365 cubic meters, and by 61% in value to $1.81 million in 2017. At the same time, direct exports of American hardwood veneers to India increased by 126% over 2016 to reach $3.23 million. While overall volumes remained low, it is being read as a sign of genuine upswing in demand for KD lumber from what has been traditionally a log-focused market. In fact, India’s imports of hardwood logs from the United States decreased by 23% in volume last year to 5,705 cubic meters. Overall, the species mix exported to India in 2017 broadened and increases were seen in shipments of all major species in hardwood lumber, with the exception of red oak, which was predominantly shipped to the market in log form.
“According to a study by World Bank, India’s organised furniture industry is expected to grow 20% per annum over the next few years and is projected to cross $32 billion by 2019. In addition, the ‘Make in India’ campaign is well on its path towards turning the country into a haven for investment and a propeller for economic headway, all of which spurs greater confidence in the future for American hardwoods in India,” remarked Roderick Wiles, regional director, AHEC. Wiles added that it is the right time for American hardwoods in India and that genuine opportunities for business now exist.