Timber Exchange trade statistics January of 2024

• In January, the State Forest Enterprise (SFE) announced 123 auctions. A total of 166.6 thousand solid m³ of wood products were offered. Compared to December, the volume of timber offered decreased by almost 30% and the volume of timber sold decreased by 29%. The auctions were organised by 25 VMU units.
• The SPOT Wood Index recorded an index value of EUR 50.57/solid m³. The index value shows a drop of 26% compared to the same period last year. Compared to the previous month, the index rose by 9%.
• Significant price changes were recorded in January:
  • In the sawn timber (D) range, the price rose by 15%, from EUR 58.49/solid m³ to EUR 67.01/solid m³.
  • The price of the packing log assortment increased by 27%, from EUR 48.88/solid m³ to EUR 62.21/solid m³.

BALTPOOL Timber Price (SPOT) Index

Trade in TOP timber assortments in ETTS short-term auctions

Trade in TOP assortments in ETTS short-term auctions

Trade in regional units of the State Forest Enterprise in short-term auctions

Timber assortments sold at ETTS short-term auctions

Abbreviations:

KA – felling residues; KAD – covered felling residues; KAK – felling residues at cleared space; KL – hard leafy short timber; ML – firewood; PM – panel timber; PJ – sawn logs; PP – pulpwood; TR – packing logs; St – large-sized timber, small-end diameter ≥32 cm; Vd – medium-sized timber, small-end diameter 20-31 cm; Sm – small-sized timber, small-end diameter ≤19 cm; L1 – assortment length class, ≤2.9 m; L2 – assortment length class, 3.0 – 3.9 m; L3 – assortment length class, 4.0 – 6.0 m; L4 – assortment length class, 6.1 – 8.9 m.

Global timber market

In an overview of the global forestry and timber market as we head into 2024, a variety of perspectives from across Europe, North and South America highlight a sector at a crossroads yet poised for growth amidst challenges.

In North America, analysts predict a significant uptick in wood prices in 2024, driven by a rebounding US housing market and a constricted supply, despite the dampening effects of high mortgage rates. The Wood Recyclers’ Association in the UK welcomed a National Audit Office report urging for enhanced government support for biomass sustainability, highlighting the domestic waste wood biomass sector’s contribution to sustainable energy.

The Global Timber Index Report indicates an easing downturn in Brazil and Mexico’s timber markets, despite logistical setbacks caused by heavy rains in tropical regions, suggesting a gradual recovery in these key markets. Across the Atlantic, Europe’s Pfeifer Group CEO, Michael Pfeifer, called for optimism in the wood industry, despite a current downturn, citing wood’s role in climate change mitigation and its growing demand under the EU’s Green Deal.

At the German Forestry Council’s European Symposium in Berlin, over 200 European guests, including forest owners and political leaders, advocated for a pivot in EU policy to better acknowledge forest owner rights and the multifaceted demands on forests, emphasising a European unified approach to forest sustainability that respects regional nuances. Claudia Müller, Parliamentary State Secretary at the Federal Ministry of Food and Agriculture, underscored the significance of adapting EU forest policies to climate realities, urging for collective action beyond national borders.

This global snapshot reveals a timber and forestry sector navigating through immediate economic and environmental challenges, yet buoyed by long-term positive prospects and a collective push for sustainable, multifunctional forestry practices.