Ireland unveiled a new forestry program worth €1.3 billion. The fund will see payments to farmers for planting trees rise between 46% and 66%, and payments will continue for 20 years rather than the current 15 years.
News in international markets
Lack of Foreign Inputs Puts Argentina’s Timber Industry at Risk of Closure
Restrictions imposed on purchases made abroad by Argentine President Albert Fernández’s administration, in order to preserve the Central Bank’s reserves in foreign currency, has the Argentine Chamber of the Wood Industry warning that local producers may soon be forced to halt all activity due to the lack of imported inputs.
Brazilian Exports of Wood-Based Products Fall Month-Over-Month and Year-Over-Year in September
According to the International Tropical Timber Organization, Brazilian exports of wood-based products (except pulp and paper) in September declined 11% in value year-over-year. Pine sawnwood exports declined 15.0% in value.
Vietnam’s Wood Products Industry Feeling the Pressure From War in Ukraine and Other Logging Issues
Vietnam is one of the world’s largest wood and furniture exporters. However, according to customs data, between August and September alone, Vietnam’s wood products exports sank 21%, with more than a 14.6% drop in total shipments.
Carlyle to Acquire Majority Stake in Grupo Garnica Plywood S.A.
Carlyle, a global investment firm, announced that it has agreed to acquire a majority stake in Grupo Garnica Plywood S.A., a leading global manufacturer of premium plywood. Carlyle’s is purchasing shares from ICG, a global alternative asset manager.
China Home Prices Decline for 13th Consecutive Month in September
According to China’s National Bureau of Statistics, as reported in Bloomberg News, home prices in China sank for the 13th consecutive month in September. New-home prices in 70 cites, excluding state-subsidized housing, dropped 0.28% from August.
EU Timber Regulations Scheduled to be Replaced
Research from iov42, the London-based company that has created a computer platform for traceability in the timber supply chain, has found that timber importers across Austria, Belgium, France, Italy, and the UK are troublingly unprepared for the upcoming change in EU regulations.
Slowing Growth in Finnish Forests Jeopardizes the Country’s Ability to Meet Its Climate Goals
Researchers predict that the total growth of Finland’s forests will drop well below estimates calculated by the Natural Resource Institute of Finland. They further predict that forests will inevitably remain at a lower level for the next several decades.
Construction of binderholz’ Solid Wood Panel Plant II In Salzburg, Austria, Nearing Completion
Construction on binderholz’ solid wood panel plant II located in in St. Georgen bei Salzburg, Austria, began in August 2021, and production is anticipated to start in late 2022Q4. According to binderholz, the site will have the world’s most modern and powerful solid wood panel plant.
US Wood Pellet Exports Climb Higher Month-Over-Month and Year-Over-Year in August
According to the United States Department of Agriculture’s Foreign Agricultural Service, the US exported 880,876 metric tons of wood pellets in August. This is up from 649,185.7 metric tons of wood pellets in July. Year-over-year, it is up from 647,922.9 metric tons in August 2021.