Energy shortages present a fantastic opportunity for Vietnamese wood pellets
- Socially Responsible Enterprise
- 21:26 28/09/2022
DNHN - After the US, Vietnam is the second-largest exporter of wood pellets worldwide. Despite not being a significant supplier of tablets to EU nations, Vietnam's product has chances to increase production and export due to the high demand and cost of tablets on the global market.
According to the Vietnam Wood and Forest Products Association, Vietnam will export 3.5 million tons of pellets in 2021, generating more than 413 million USD in revenue. With a revenue of 354 million USD, the export volume in the first half of 2022 was close to 2.4 million tons.
The value of wood and wood products exported in the first eight months of 2022 is predicted by the General Department of Forestry (Ministry of Agriculture and Rural Development) to be 11 billion USD, an increase of 6.2% over the same time in 2021. When compared to the same period in 2021, the expected export value of wood products is 7.8 billion USD, a 3% decrease.
When the EU, Japan, and certain Asian nations are searching for alternate raw materials for gas, wood pellets and chips, in particular, provide a chance. Due to a 150–200% price rise in wood pellets and chips, the drop in exports of wood and wood products has been made up for.
The total value of exports in 2022 may exceed 700 million USD if the growth rate is maintained at its historical level. Wood pellets might eventually join the category of agro-forestry export products with a market value of over USD 1 billion.
Since the war between Russia and Ukraine is reducing the supply of gas from Russia to EU nations, many EU citizens are switching to utilizing pellets for heating the next winter, which is driving up demand for pellets on the global market.
After the US, Vietnam is the second-largest exporter of wood pellets worldwide. Despite not being a significant supplier of tablets to EU nations, Vietnam's product has chances to increase production and export due to the high demand and cost of tablets on the global market.
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