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.
In October, Vietnamese timber exports earned US$528 million, bringing
total timber exports in the first 10 months to $4.98 billion, a 12.8-per
cent year-on-year increase.
Timber exports to the Middle East reached US$37.3 million, up 37.1
percent in the first half of this year, according to the Ministry of
Industry and Trade.
With earnings topping US$1.2 billion in the first quarter, exporters of timber and and wood products are hoping to rake in $5.5 billion this year, according to the Ministry of Agriculture and Rural Development.