Estonian and Central Europe forestry sector bracing for downturn

A cooling of the global economy and widespread damaged to fir trees due to a bark beetle infestation in central Europe, is predicted to have a major impact on the entire forestry sector. This as forest landowners rush to harvest as many infected trees as possible, creating a glut of logs and finished materials entering a slower economic marketplace. Martin Arula, CEO of Toftan, one of the largest sawmills in the Baltic States and based in Võru County, said the current situation on the timber market was comparable with a crash in prices that happened 2007-2008.