Global hardwood prices are surging, softwood prices are softening, and exports are shrinking, with the Russia-Ukraine conflict and a decade-low demand from China blamed for an increasingly uncertain and volatile market for forest products.<\/p>\n\n\n\n
At the same time, the supply of global timber, fuelled by the trade of timber from Russia, Canada and the United States, fell for the first nine months – with Russian export volumes dropping by more than 33%.<\/p>\n\n\n\n
That is the latest takeaway from the Wood Resources International (WSI) Global Forest Summary, which reports that the war has slashed prices and shipments for the year to September 2023.<\/p>\n\n\n\n
It comes as export prices for Russian timber have almost halved since early 2022, with volumes crashing by more than 25% as sanctions \u2013 which have not only seen trade bans but all Western Companies’ exit from Russian assets<\/a>, a freefall in Chinese demand<\/a> and a weakening of the ruble against the dollar <\/a>leading to a perfect storm.<\/p>\n\n\n\n