China's Wooden Barrel Imports in June 2023 Reach $5.6M

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China Wood Barrel Imports

In June 2023, the number of wooden casks, barrels, vats, tubs, and coopers products imported from abroad decreased by 9.1% to 80,000 units. However, overall imports continued to show strong growth, with the highest increase occurring in November 2022 at 102% month-on-month. Imports reached a peak of 88,000 units in May 2023 but dropped in the following month.

In terms of value, wood barrel imports surged to $5.6 million in June 2023, according to IndexBox estimates. Import values saw consistent growth, with the most significant increase of 236% compared to the previous month recorded in November 2022. Import figures hit a record high in June 2023.

China Wood Barrel Imports By Country (Million USD)

Imports by Country

The United States (29,000 units), Spain (20,000 units), and France (5,100 units) were the main suppliers of wood barrel imports to China, accounting for a combined 68% share of total imports.

From June 2022 to June 2023, Spain experienced the highest growth rate in terms of volume, with a CAGR of 16.7%, while the other leading countries saw more modest growth.

In value terms, Spain ($2.3 million), the United States ($1.4 million), and France ($1.4 million) were the largest suppliers of wood barrels to China, making up 91% of total imports.

Spain also saw the highest growth rate in terms of import values, with a CAGR of 14.6%, while the other leading countries experienced slower growth rates.

Import Prices by Country

In June 2023, the price of wood barrels stood at $70.3 per unit (CIF, China), showing a 37% increase compared to the previous month. The overall import price displayed a slight decrease, with the highest growth rate of 66% month-to-month recorded in November 2022. Import prices reached their peak at $109 per unit in December 2022 but failed to regain momentum from January 2023 to June 2023.

Prices varied across countries, with France having the highest price at $266 per unit, while Ireland offered the lowest price at $17.6 per unit.

From June 2022 to June 2023, Ireland witnessed the most significant price growth at 32.9%, while the other major suppliers experienced more modest increases.



Source: IndexBox Market Intelligence Platform

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