U.S. Imports of Tropical Hardwood Veneers Increases by 56% in March

According to a report issues by the International Tropical Timber Organization U.S. imports of tropical hardwood veneer recover from a dismal February as March imports rose by 56%. Despite the gain, the month’s imports still lagged behind March 2019 import levels by over 30%. Imports from Italy more than quadrupled in March and imports from Cote d’Ivoire more than doubled. Imports from other countries, however, moved in the opposite direction with China and Cameroon both down -77%, Ghana down -68% and India down -65%. Year to date, imports are down by 29% through the first quarter of the year. U.S. imports of hardwood flooring rose 12% in March, but again the source of supply has drastically changed.