MANILA, Philippines - The supply of locally produced wood for the downstream wood processing industry is getting depleted and is likely to run out in the near future.
Once the supply of locally produced wood, including hardwood, runs out, wood processors will have to rely on imports.
The local wood processing industry currently earns around $1 billion in export revenue annually.
Since a total log ban was imposed through Executive Order (EO) 23 early this year, wood imports of the furniture and construction industry have risen by at least 30 percent.
According to the Philippine Wood Processors Association, there is a shortage of hardwood in the global market, jacking up the cost of imported hardwood.
The Philippines imports logs and wood products from Malaysia, Solomon Islands, and Papua New Guinea.
As of 2010, wood-based manufacturing brought in a revenue of $1.028 billion, making the sector the Philippines’ 10th largest commodity group. It registered a 25 percent growth from $820.405 million in 2009.
Up to 70 percent of the wood supply of wood producers come from industrial plantation areas or natural forest areaswhich are now covered by a logging ban.
Industrial plantations are the only producers of hardwood (lawaan, apitong, tangile).