Vietnam has emerged as the world\u2019s second largest exporter of wood pellets, one of the important export items of the domestic wood industry according to details provided by the Vietnam Timber and Forest Products Association.<\/p>\n
Vietnam earned US$354 million from exporting approximately 2.4 million tonnes of wood pellets in the first half of the year and it aims to raise the export value for the whole year to around US$700 million.<\/p>\n
Wood pellets are anticipated to enter the group of agroforestry products which boast an export turnover of over US$1 billion in the coming years.<\/p>\n
The volume and value of pellet exports increased steadily since October 2021 and export prices soared to reach an average of nearly US$150 per tonne, up more than 27% compared to the average price recorded last year. The sharp rise in the export volume and price can be attributed to the sudden increase in demand from the EU.<\/p>\n
Experts said there remain ample opportunities to boost exports of wood pellets particularly as the majority of Vietnamese wood pellets are exported to Japan and the South Korea.<\/p>\n
However, the industry faces numerous challenges including a shortage of raw materials and stringent requirements imposed by foreign importers such as sustainability certification.<\/p>\n
The association recommended that Vietnamese businesses actively grasp market information and prepare to meet strict requirements in order to penetrate demanding global markets.<\/p>","protected":false},"excerpt":{"rendered":"