Vietnam is expected to earn US$2.8 billion from wood product exports this year, US$200 million lower than its earlier-set target, said Nguyen Ton Quyen, chairman of the Vietnam Wood and Forest Products Association.
Prices are 10 per cent lower than a year ago and it is not easy to seek those raw materials with certificates of origin that meet U.S. and EU import requirements, Quyen explained.
Orders from large export markets are expected to increase in the coming months with signs of recovery in the global economy while retailers often stockpile for the end-of-year shopping season.
Quyen suggested Vietnamese wood products exporters pay increasing attention to new export markets like Russia and the Middle East, rather than rely too heavily on traditional ones including Japan , the U.S. and the EU.
Meanwhile, wood product makers make and offer their products for sales on the domestic market, particularly in major cities, said Quyen.
Exports of wood products in the first half of the year totaled US$1.3 billion, down 30 per cent from the same period last year, according to association figures.
(Youth)
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