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Demand for importing wood pellets as fuel is on an upward trend
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Table Of Contents
The export value of wood pellets in the first ten months of 2022 was estimated at 568 million USD, up 82,8% compared to 2021.
According to Vietnam Timber and Forest Product Association, demand for importing wood pellets as fuel is on an upward trend. In the first ten months of 2022, the export value of wood pellets in Vietnam was estimated at 568 million USD, up 82,8% compared to 2021. This year, wood pellets ranked 4th in terms of export value in eight export items and forest products, behind interior and exterior furniture, wood materials, and wood chips. “Việt Nam has become the second largest exporter of wood pellets in the world.
Mr. Đỗ Xuân Lập, Chairman of Vietnam Timber and Forest Product Association said that due to the ongoing conflict in Ukraine, and many European countries turning their backs on the supply of gas from Russia, the export potential of wood, and especially wood pellets, is on an upward trend. Besides, Japan and South Korea are the two largest customers of Việt Nam’s wood pellet production, adding that more than 90 percent of Việt Nam’s wood pellets have been purchased by the two Eastern Asian countries.
“If the growth is maintained at the current rate, export turnover for the whole year of 2022 may reach around $700 million. Wood pellets are likely to become one of Việt Nam’s key export agro-forestry products with an estimated export turnover of US$1 billion in 2023”, Lập said.
On June 30, 2022, in Hanoi, Vinacontrol Group and Nippon Kaiji Kentei Vietnam signed a cooperation agreement on providing testing and analysis services for export wood pellets.
Vinacontrol Group and Nippon Kaiji Kentei Vietnam signed the cooperation agreement on providing testing and analysis services for export wood pellets.
The cooperation will help Vinacontrol and VNKK meet the requirements of Japanese buyers, a market with high requirements on product quality that wood pellet products must be tested and analyzed by reputable inspection organizations before shipment. At the same time, the inspection, analysis, and quality management activities of Vinacontrol and VNKK also help Vietnamese wood pellet manufacturers improve product quality, increase competitiveness and penetrate deeply into the international markets.
