Japan experienced a notable increase in bleached sulphate pulp imports in November 2023, reaching 82K tons after a period of decline. This marked a significant rise in import volume, although the trend over time remained relatively flat.
The most significant monthly increase occurred in August 2023, with a 53 per cent growth. In terms of value, these imports amounted to $65M, as estimated by IndexBox.
The primary suppliers of bleached sulphate pulp to Japan were Brazil (25K tons), the United States (22K tons), and Canada (17K tons), collectively accounting for 78 per cent of total imports. The most considerable growth rate in imports was observed from Brazil, with a compound annual growth rate (CAGR) of +4.3 per cent, while other leading suppliers experienced modest increases.
Non-coniferous wood pulp
In monetary terms, the United States ($23M), Brazil ($15M), and Canada ($13M) emerged as the top suppliers, making up 80 per cent of Japan's total imports. Brazil's import value grew at a CAGR of -0.3 per cent, outpacing leading suppliers.
Japan's bleached sulphate pulp imports predominantly comprised pulp from coniferous wood (50K tons) and non-coniferous wood (32K tons). The non-coniferous wood pulp grew significantly at a CAGR of +2.6 per cent. In value, coniferous wood pulp ($45M) constituted the most significant import type, accounting for 70 per cent of the total, followed by non-coniferous wood pulp ($20M) at 30 per cent.
Notable decline in import prices
In November 2023, the average price of bleached sulphate pulp in Japan was $788 per ton, showing a decrease of -5.7 per cent compared to the previous month. This trend represented a notable decline in import prices, with the highest recorded at $1,160 per ton in November 2022. The United States had the highest import price at $1,079 per ton, while Indonesia offered the lowest at $589. The United States was the only supplier with a price increase (-1.8 per cent ) from November 2022 to November 2023.
Source: IndexBox Market Intelligence Platform.