The U.S. Trade Representative has called on the Peruvian government to ensure its timber exports are meeting sourcing laws following a ban on shipments by Oroza in 2017. Peruvian forestry exports have been in a prolonged decline, which included a 9% drop in January vs. a year earlier to reach the lowest since at least 2012. That’s mostly been due to exports to China though rather than timber to the U.S., with a 45% slump on a year earlier. That likely reflects a drop in demand for building products including hardwood flooring, which were worth $34 million in the 12 months to January 31.<...
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