Housing slump weighs on timber import

Timber import has witnessed a significant fall in recent times as local furniture industry is yet to overcome the crisis experienced by the real estate sector for the last several years, insiders said.
Realtors have been in the doldrums for the last couple of years, even price cut by companies failed to boost demand.
The country's import of different varieties of log plunged by 13-16 per cent in 2014 compared with a year ago after demand declined in the furniture industry, boat making and other commercial usage recently, according to the Chittagong Customs House and the Teknaf Land Port.
Import of different varieties of timber (in raw form) dropped to 52,957 tonnes in 2014, which was 60,047 tonnes (HS Code 44039900) in 2013 -- a 12 per cent fall in a year, data from the Chittagong Customs House showed.
Assistant Commissioner of the Chittagong Customs House Abdul Kaiyum said Bangladesh's log importers mainly procure timber from neighbouring Myanmar, African countries, Russia, New Zealand, Germany and the US through the Chittagong port and the Teknaf Land Port.
Logs are used for making fishing boats, trawlers, body of trucks, railway sleepers, doors and windows of housing projects in urban areas, exportable furniture etc, he said.
Meanwhile, timer import through the Teknaf Land Port from Myanmar also witnessed a more than 16 per cent fall in the last calendar year.
Romendu Bikash Chakma, Traffic Inspector at the port, said traders imported only 26,357 cubic metres of log in 2014 which was 31,006 cubic metres in 2013.
He said the port witnessed a record 49,000 cubic metre import in 2010. The import has been falling since then.
However, consequences of a fall in timber import also are visible in the country's exports and local sales.
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