The strong euro has slowed the rate of European timber exports to the US but shipments are not expected to die away altogether, industry newsletter Random Lengths International has reported.
A lack of alternative export markets coupled with limited domestic demand means many European exporters will continue to ship to America. Some companies are fighting the high currency rate by shipping more from low cost mills in Europe, including the Baltics.
US softwood imports from Europe fell during February to 251,236m3, according to the Foreign Agricultural Service. This is 24% down compared to February 2002, but up 56% when compared with the 2001 figure.
The Japanese and Middle East export markets have grown weaker in recent months, while competition from Russian producers has led to heavy supplies on the European market, causing companies to look more towards offshore exports.
The level of European shipments to the US increased dramatically in 2002, when exporters expected a rapid rise in demand due to the 27.2% duties imposed on Canadian lumber imports to the US. However, European companies largely failed to benefit because the Canadians increased their volumes to offset the duties.
