In France, firewood shortages are escalating and so have prices, which are up more than 20% since June. The increase is the result of increasing demand, as more people enter the market amid fears over the price of other fuel sources.
News in international markets
Norra Skog to Invest SEK 300 Million in Its Kåge, Sweden, Sawmill
Norra Skog’s board of directors announced on Tuesday it was investing SEK 300 million ($27.3 million USD) in its sawmill located in Kåge, Sweden, north of Skellefteå.
Energy Crisis and Inflation Send EU Consumer Sentiment to New Record Low
A monthly gauge issued from the European Commission fell to -28.8 for September. That was in excess of analysts’ predictions of a -25.5 decline and has resulted in consumer confidence in the Euro-area sinking to its lowest level on record.
World’s Tallest Hybrid Timber Building Coming to Sydney, Australia
Tokyo-based Obayashi Corporation and Sydney-based Built Pty Ltd. have started work on a 182-meter-tall (597 feet) skyscraper in central Sydney. The project is part of a partnership to build what will be the world’s tallest hybrid-timber building using an eco-friendly wood product.
Sweden’s Setra to Invest in Its Own Pellet Plant at Its Långshyttan Glulam Factory
Setra, one of Sweden’s largest wood products companies, announced on Friday that it intends to invest in its own pellet production plant at its factory in Långshyttan. In a statement, the company says the investment is strategic and will increase the value of bioproducts, as well as reduce transportation and CO2 emissions.
Belarus Seeks Alternatives to Overcome Sanctions on Timber and Wood Products
Belarus’ export program is now being reoriented towards the domestic market—which in turn has required a major restructuring of the timber industry market, with losses in profitability and additional administrative costs being borne by the heads of regional governors.
China’s Home Prices Decline at an Accelerated Pace in August, Marking 12th Consecutive Drop
According to data released by China’s National Bureau of Statistics, new-home prices in 70 cities, excluding state-subsidized housing, dropped 0.29% month-over-month in August. The decline marks the twelfth consecutive month of price depreciation.
EU Parliament to Decide Fate of Biomass Subsidies in Pending Vote
Part of the European Union’s renewable energy directive, the biomass amendments, will be subject to a plenary vote in the European Parliament on Wednesday. Three of the European Parliament’s largest political groups have backed the proposal to end subsidies for biomass used in power plants and exclude primary wood burning from the EU’s renewable energy targets.
Estonian Sawmills Suffering From Deteriorating Demand and High Energy Prices
Estonian sawmills are facing difficult times, and if conditions don’t improve some sawmills may need to temporarily close by year’s end. Deteriorating demand is hitting timber producers at a time of skyrocketing energy prices.
US Wood Pellet Exports Decline Month-Over-Month but Are Up Year-Over-Year in July 2022
According to data released by the US Department of Agriculture, the US exported 649,185.7 metric tons of wood pellets in July, down month-over-month from June’s 832,092.2 metric tons of wood pellets but up year-over-year from 546,519.9 metric tons in July 2021.