DHA eNews – DHA Releases Legal Timber Due Diligence Standard 2.0
We are pleased to announce the release of DHA's American National Standard for Due Diligence in Procuring / Sourcing Legal Timber (ANS LTDD 2.0 2023). This updated standard is available for free download on DHA's website. Members of DHA are proud of their sustainability and efforts to reduce deforestation and ensure the legality of our supply chain. This standard helps with those efforts.
2023 was a challenging year for many of our key markets. The most recent data available from cabinet manufacturers show sales volume down by 14% in 2023 through November. Flooring has faced a challenging market, too. That said, we are optimistic that lower interest rates in 2024 will increase home building and renovations and lift our key markets. Read on for trends and projected growth in 2024 that will benefit our industry.
If you have questions or comments, contact me. I look forward to hearing from you.
Keith A. Christman, President
Decorative Hardwoods Association
DHA has released the updated consensus standard for legal timber due diligence, ANS LTDD 2.0 2023, available for free for all DHA members, subscribers of the DHA eNews, and visitors to the DHA website. The standard, which helps ensure the legality of the wood products in your company's supply chain, is now available for free on the DHA website.
The Ways and Means Committee overwhelmingly approved the proposed Tax Relief for American Families and Workers Act. The bipartisan bill would extend credits for research and development, the deduction of interest payments, and bonus depreciation designed to help businesses and increase economic growth. The bill also extends the child and low-income housing tax credits. Costs are offset by ending the COVID-era employee retention tax credit that is plagued by fraud.
According to the latest data, 2023 sales of cabinets continued to decline—down by 14% in volume from January to November 2023. November sales were also down by 11% vs. October.
According to House Beautiful, "plywood has been on the rise for years now, and in 2024 it will continue to be a popular choice for cabinetry" and "its pale color is perfect for achieving the Scandi minimalist style that so many of us desire in our homes."
The U.S. Forest Service will be tasked with amending all land management plans in an attempt to maximize the conservation of old-growth forests. This is despite the volume of feedback from our industry in 2023 that urged regulators to treat old-growth and mature forests in accordance with best practices in forest management.
The American Hardwood Export Council has commissioned jurisdiction risk assessments for hardwood products in 33 states. The risk assessments are necessitated by the European Union's deforestation regulation (EUDR), which will impact exports of U.S. wood products to Europe.
Experts report that the destocking of inventory in 2023 is ending, setting the stage for a resurgence in economic activity in the forest products sector. Expect to see new forestry investments in the U.S. South and relatively strong housing starts throughout the U.S. this year.
Economists forecast a record-setting $112 billion investment in factories in 2024. Street and highway project starts are expected to grow by 23% and bridge project starts by 25%. Losing is warehouse and office construction, projected to drop by 11% and 6%, respectively.
Kitchen Cabinet Manufacturers Association is inviting kitchen designers to submit their best projects that feature cabinets made by KCMA members. Entries will be accepted until March 15.
Researchers estimate that the sales volume of U.S. floor coverings will grow by 2.5% in the first quarter of 2024. This follows a 1.9% increase in the fourth quarter of 2023.
Leggett & Platt is restructuring and will close 15 or more of its manufacturing facilities. Most are part of its bedding division, but some home furniture and flooring products plants will also be closed to "better align capacity with regional demand and drive operating efficiencies."
Oregon State University researchers using forest modeling have shown how to maximize the carbon sequestration of timber tracts. The most effective means of managing forests for carbon storage is a 60-year rotation with low-intensity thinning at 40 years.
The Wisconsin Department of Natural Resources has asked property owners to watch for woodpecker damage to their ash trees. Woodpecker damage happens when the birds peck away some of the tree's bark to access larvae underneath. Flecking is a common early sign that an ash tree might be infested by the emerald ash borer.
How much land—including forestland—in Canada is public or "Crown" land?
