This gain was achieved before the abolition of the MFN regime in trade. In May-July, the volume of supplies fell by 62%, and the value decreased by 48%.

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Value of Russian plywood exports to U.S. jumps 68% in first seven months of 2022

Value of Russian plywood exports to U.S. jumps 68% in first seven months of 2022

Bild: Depositphotos

For the first seven months of 2022 the value of Russian plywood exports to the U.S. jumped 68% to $222 million, while export volume contracted 8% year-on-year to 264 thousand m3. The average plywood supply price jumped by 83% year-on-year to $842 per m3, according to Lesprom Analytics.

Bild: Russian exports of plywood to the U.S. / Lesprom Network

Since April 9, 2022, the U.S. canceled the most favored nation treatment (MFN) in trade with Russia and Belarus. The average tariff on imports of products from these countries to the U.S. increased from 3.3% to 32.3%, while for plywood it reached 40-50%. After the abolition of the MFN regime in trade, in May-July, the volume of Russian supplies fell by 62%, and the value decreased by 48%. In July, exports of plywood fell 66% to 18 thousand m3, and the value of exports downed 64% to $10 million.

Bild: Average price for Russian plywood in the U.S. in January 2021 - July 2022 / Lesprom Analytics

 

The exports of lumber from Russia to the U.S. declined 38% year-on-year to 42 thousand m3 in January-July. The value of exports fell 14% to $22 million. Average price of lumber jumped 38% to $531 per m3.

Bild: Russian exports of lumber to the U.S. / Lesprom Network