The cost of wood pellets imported into South Korea rose by around 7% in June compared to the previous month, as demand for biomass fuel remained strong and regional supply tightened.
In total, the country imported approximately 312,000 tonnes of wood pellets during the month at an average price of $122 per tonne (CIF), up from around $114 per tonne in May.
Vietnam remained the dominant supplier, accounting for more than two-thirds of the shipments, with smaller volumes arriving from Indonesia, Malaysia, Russia and Thailand.
South Korea has brought in an estimated 1.7 million tonnes of wood pellets in the first half of this year, consolidating its position as one of the world’s largest buyers of biomass. Wood pellets play a key role in efforts to cut emissions from power generation and reduce dependence on coal.
Industry analysts suggest that higher shipping costs, constrained supply in Southeast Asia, and stockbuilding by utilities ahead of the summer have all contributed to the recent price increase.
Wood pellet import prices rise 7% in South Korea in June
