Looking Forward in 2022- Imported Hardwood Market Update

Written by Jesper Bach

As 2022 begins, it was worth taking a moment to reflect back on the past year. 2021 was definitely challenging. While things were good on the sales side,  almost everything on the sourcing side was more challenging than ever.

It is quite a list of issues too:lookingforward

  • Lack of empty containers everywhere we buy from
  • Container rates that went up 100-500%
  • US port to inland destination rates went up 100-300%
  • Inspections and document delays causing demurrage at ports

All of these issues contributed to much lower imported inventories to sell from, and a significant amount of price increases in just about every species.

At the onset of 2022, it is not looking much better, inventories are lower than when we started 2021 and the issues on the supply/logistics side seem to be getting worse. Ocean freight rates continue to increase and empty container availability continues to dictate how much product we are able to get shipped.

Price at the time of shipment has become a much more normal term when selling imported products too, as pricing the product prior to its arrival can be quite tricky on the costing side.

We did see a little more product arrive into our Cove City, NC facility in December, which is flowing into January as well, so at least for the 1st quarter of the year, we will be busy pushing that volume through production and out to our valued customers.

On a positive note we have increased our portfolio of imported hardwood species throughout the last 12 months, to enable us to offer a larger variety to our customers, so keep an eye on our monthly stock list to see what is being processed and what is coming down the road!
 
If you are in need of imported hardwoods, choose us to be your trusted hardwood advisor. We are happy to see what we can do to help! 

Jesper Bach
Baillie Lumber Co.
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