Vietnam’s wood pellet exports seen to fetch US$1bil in 2023

HANOI: Wood pellets are likely to become one of Vietnam’s key export agro-forestry products with an estimated export turnover of US$1bil (RM4.7bil) in 2023, according to Do Xuan Lap, the chairman of Vietnam Timber and Forest Product Association.

Do said that pellet production was thriving, bringing significant value to the forestry value chain. This year, wood pellets ranked fourth in terms of export value in eight export items and forest products, behind interior and exterior furniture, wood materials and wood chips.