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.
News in international markets
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.
Ireland Unveils New €1.3 Billion Forestry Program
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.
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.