China's imports of sapelli have increased significantly, with more than 90% coming from Cameroon and Republic of Congo.
According to Chinese customs statistics, from January to July 2024, China's sapelli imports surged by more than 140% to 56,000 cubic meters, worth US$31 million, an increase of more than 140% over the same period in 2023. Starting from January, Sapelli wood imports have risen month by month, reaching a peak in May, reaching 12,600 cubic meters per month, an increase of nearly 200% year-on-year. It fell sharply after June, but it was still 57% higher than the same period last year.
Cameroon and the Republic of Congo are the first and second largest suppliers of sapelli imported by China, respectively. From January to July 2024, 93% of China's sapelli imports came from these two countries. China imported nearly 31,000 cubic meters of Sapele from Cameroon and 21,000 cubic meters from the Republic of Congo, up more than 150% and 120% year-on-year, accounting for 55% and 37% of the national total.
The recent strong performance of Sapele sawn timber in the Chinese domestic market is due to a variety of factors. Sapele wood is widely used in furniture, construction and musical instruments. It is currently favored by Chinese consumers. The steady growth in market demand for Sapele wood has driven a significant increase in its import volume.
In addition, the decline in export prices and the substantial increase in production in exporting countries have jointly driven the rapid growth of China's consumption of Sapele sawn timber and Sapele veneer.