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By early February 2026, signs of eucalyptus core veneer shortage have emerged in Thailand. Massive capacity expansion of local plywood factories has led to a tight supply of domestic eucalyptus logs and rotary-cut veneers.
In the short term, Thai plywood mills are expected to increase rubberwood usage as an alternative—a shift that will likely push up the price of Thai birch plywood. Rubberwood is heavier than eucalyptus, reducing the number of plywood sheets per container and indirectly raising import costs for U.S. buyers.
Notably, many Thai plywood factories have secured orders through April to June 2026—an unprecedented order backlog not seen since 2003. Could this extreme market tightness mirror the 2025 gold market volatility? U.S. importers should closely monitor supply shifts and cost fluctuations amid Thailand’s wood raw material constraints and evolving trade policies affecting U.S.-Thailand shipments.
