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The war in Ukraine has pushed up timber prices in Estonia to unprecedented heights. All assortments became more expensive and only softwood pulpwood did not set a new price record. The rise in the price of birch and pulpwood and the extraordinary rise in the price of firewood are particularly noteworthy. The prices of softwood logs have also reached such high levels in absolute terms that would have been impossible three months ago. The prices of hardwood logs are also very high.

According to the price statistics of the Estonian Private Forest Center, the prices of softwood logs were on an upward trend in the first quarter of 2022, and by the end of March the price increase was noticeable.The price of pine logs increased by 25.1% in the first three months of the year, pine logs (diameter <18cm) by 27.7%, spruce logs by 20.1% and spruce logs (diameter <18cm) by 32.6%, which also meant absolute price records for all assortments.

Year on year, softwood logs have become even more expensive. The price increase of pine logs is 59.4% higher as compared to Q1/2021.According to the price statistics of the Estonian Private Forest Center, in March a cubic meter of pine logs costs 140.92 euros per cubic meter and 117.11 euros per cubic meter for spruce logs.

The increase in the price of hardwood assortments was not as great as for softwood logs, but it was still considerable. During the first quarter, the price of birch veneer logs increased by 11.4%, birch sawlogs by 12.8% and alder logs by 12.3%. The prices of all assortments are the highest ever.

Pulpwood varieties have also become more expensive in the first three months of the year. Thus, the price of softwood pulpwood has increased by approx. 19.5%, birch pulpwood 14.5% and aspen pulpwood 13.6%. The most expensive variety is birch wood and the cheapest is aspen wood. Compared to a year ago, the price increase for pine, spruce and birch wood has been clearly higher (28.2%, 24.8% and 33%, respectively).

Average Prices in State-Owned Forests Free Alongside Forest Road Prices in EUR/cubic meters with VAT

Price change in % Q1/2022-Q4/2021

Price change in % Q1/2022-Q1/2021

Pine sawlogs

140.92

25.1%

59.4%

Pine sawlogs d<18cm

119.44

27.7%

47.5%

Spruce sawlogs

117.11

20.1%

46.8%

Spruce sawlogs d<18cm

110.57

32.6%

47.7%

Birch veneer logs

140.58

11.4%

23.7%

Birch sawlogs

96.02

12.8%

35.7%

Pine pulpwood 

59.13

53.2%

70.9%

Spruce pulpwood

59.13

53.0%

81.6%

Birch pulpwood

74.37

32.7%

76.6%

Firewood

45.38

52.4%

92.7%

 

The post Estonia: Log prices set record high in Q1/2022 appeared first on Timber Industry News.