Hormuz Squeezes Middle East Timber — But US Hardwood Weathers the Storm

The Gulf crisis that has stranded up to 10 per cent of the world’s container fleet in the Strait of Hormuz is cutting off one of the fastest-growing timber markets — but the direct hit to American hardwood exporters is limited, for now…

That is according to Matthew Pelkki, professor and George H. Clippert Chair of Forestry at the University of Arkansas at Monticello and director of the Arkansas Center for Forest Business, who said impacts on the Arkansas timber industry — one of the country’s most productive for wood supply — will likely be minimal. “While the Middle East and North African market has grown substantially, it is still a small component of US wood exports,” Pelkki stressed yesterday.

According to the US Department of Agriculture’s Foreign Agricultural Service, the US exports $8.75 billion in wood products annually, with Canada the top destination at $1.96 billion, the United Kingdom second at $1.68 billion, and the European Union third at $881 million. None of the Middle Eastern or North African nations features in the top ten.

Article created by our partner – Jason Ross – Wood Central

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