MEXICO - Proteak, Mexico's largest forestry company, reported its 1Q-2023 results.

During 1Q-2023, Tecnotabla's (MDF) sales volume was 53,231 m3, 2 percent below 1Q-2022 and 5 percent above 4Q-2022, with a value-added product share of around 35 percent. MDF sales revenue reached MXN404.8 million, down 28 percent vs 1Q-2022, due to lower prices.

During 1Q-2023, the market continued with the downward trend that has been marked since previous quarters, derived from the entry of imported products, the reduction in demand and the decreasing trend in prices.

In 1Q-2023, Tecnotabla's share of the Mexican MDF market stood at 23 percent in Natural MDF and 35 percent in melamine, in line with the levels reported in 2022.

In 1Q-2023, Tecnotabla manufactured a total of 44,610 m3 of MDF, a 19 percent drop compared to the same period of the previous year.