News in international markets

The uncertain market forced the decision, and the CEO said he has difficulty predicting the outlook.

Ireland said it will allocate an additional €160 million ($187.19 million) over 2026–30, directing funds to TAMS for forestry and fisheries, the Irish Examiner reported.

Sappi Southern Africa has received Competition Commission approval to sell its Lomati Sawmill to Normandien Farms, with the handover set for September 1.

The US exported 743,157.7 metric tons of wood pellets in June, down from 853,395.1 metric tons in May, the USDA and Biomass Magazine reported.

The Brazilian Association of Mechanically Processed Timber Industry has voiced concern over the 50% US tariff on Brazilian timber products, the ITTO reported.

Metsä Group is planning a €300 million cost savings and profit improvement program in response to weak profitability and market uncertainty.

The value of Brazilian exports of wood-based products (excluding pulp and paper) declined 2.4% year-over-year in June.

Canfor’s 77%-owned subsidiary, Vida AB, has entered into an agreement to purchase AB Karl Hedin Sågverk for $164 million (SEK 1.15 billion).

Southern pine lumber exports (both untreated and treated) fell 14.8% to 48.9 MMBF in May, the USDA and SFPA reported.

Now operational, the facility has more than doubled its annual production capacity to 450,000 cubic meters of sawn timber.