On Friday, Russia extended its prohibitive export duties on soft and hardwood rough-sawn lumber with moisture content in excess of 22%, which has been used as cover for exporting unprocessed timber, for three years until December 31, 2025.
News in international markets
Australia’s Home Prices Suffer Largest Annual Decline Since 2008
According to CoreLogic, Australia’s housing market in 2022 experienced its largest annual decline since 2008, as sharp interest rate hikes weakened home buyers purchasing power and turned off would be investors.
Finland’s Carbon Sinks Shrinking Due to Increased Tree Harvesting
A report released on Wednesday by the Natural Resources Institute of Finland (LUKE) has confirmed that the land use sector in Finland has changed from a carbon sink into a source of emissions. The report concluded that the primary reasons are intensifying felling and slowing growth.
Stora Enso Strengthening Focus on Specialized Pulp Grades
Stora Enso announced on Tuesday that it was strengthening its focus on specialized pulp grades by investing €38 million in unbleached kraft pulp (UKP) production at its Enocell site in Finland and €42 million in fluff pulp production improvement at its Skutskär site in Sweden.
Significant Progress Reported in Western Australia’s Softwood Timber Estate Expansion
The competitive real estate market in Western Australia has not slowed the acquisition of land needed to expand the country’s western softwood timber estate. In September 2021, the government announced a record $350 million (A$), 10-year investment in the expansion of the State’s softwood plantation timber estate.
New Zealand Announces Its Forestry and Wood Processing Industry Transformation Plan
New Zealand’s Forestry Minister Stuart Nash announced on Monday the Forestry and Wood Processing Industry Transformation Plan (ITP). Nash says the ITP will increase wood processing in the country and grow a low-carbon, high value timber industry.
Brazilian Exports of Wood-Based Products Decline Month-Over-Month and Year-Over-Year in October
According to the International Tropical Timber Organization), in October Brazilian exports of wood-based products (except pulp and paper) declined 16% in value year-over-year. The total value fell from US$371.6 million in October 2021 to US$313.1 million in October 2022.
Stora Enso and Voodin Blade Technology Announce Partnership to Develop Sustainable Wind Turbine Blades
Stora Enso and Voodin Blade Technology, a German-based startup, announced on Tuesday that they have signed a partnership agreement to develop sustainable wind turbine blades made of wood using Stora Enso’s LVL, a mass timber product.
Estonia’s Chances of Amending EU’s Land Use and Forestry Regulation are Limited
Estonia’s chances of amending the EU’s LULUCF Regulation on climate targets does not look favorable. Nevertheless, Estonia’s Minister of the Environment, is still attempting to secure greater flexibility and disaster-related compensation mechanisms.
US Wood Pellet Exports Decline Month-Over-Month but Remain Higher Year-Over-Year in September
According to data released on Thursday by the US Department of Agriculture’s (USDA) Foreign Agricultural Service, the US exported 766,508.2 metric tons of wood pellets in September 2022. This is down from 880,876 metric tons in August but up from 690,514.5 metric tons of wood pellets in September 2021.