News in international markets

Norvik hf have shareholders approved the SEK1.54 billion ($143.50 million USD) public takeover offer of Berg Timber, according to Timber Trades Journal.

Brazilian exports of wood-based products (except pulp and paper) in October fell 31.0% in value compared to October 2022, according to the International Tropical Timber Organization.

Japan reported on Thursday that housing starts in Japan declined for the fifth consecutive month in October, according to Business Insider.

The UK is investing £16 million ($20.2 million) to boost the country’s scientists in the development of climate and pest resilient woodlands.

UPM announced that it was preparing to start change negotiations on possible temporary layoffs at its UPM Pulp, UPM Timber, UPM Communication Papers, and UPM Biofuels businesses in Finland.

Radio New Zealand reported that log export prices have firmed this month, with sales to New Zealand’s largest customer, China, picking up despite its post-COVID construction slowdown.

China plans to provide at least US$137.22 billion (1 trillion yuan) of low-cost financing to urban village renovation and affordable housing programs, Reuters reported, citing Bloomberg.

Indonesia has launched a carbon trading scheme to boost GHG emissions absorption from the forestry and other land use sectors to reach its carbon dioxide reduction targets by 2030, Tempo.co reported.

The US exported 796,988 million metric tons of wood pellets in September, down 21% from August, according to the USDA and Biomass Magazine.