Ukraine’s State-Run Forests Auction 1 Million Cubic Meters of Wood and Increase Harvesting in 2024

Ukraine’s state-run enterprise Forests of Ukraine has put up more than 1 million cubic meters of wood for auction, General Director Yuriy Bolokhovets said on Monday, Interfax-Ukraine reported (2-22-24).

According to Bolokhovets, this volume of wood is a record amount and was accumulated due to unsold products during 2023Q4. “Uncertainty with borders plus the holiday period in the EU countries have reduced the demand for wood,” he said. “Many processors have taken a break… Demand is gradually recovering, however, in some market segments the situation continues to remain difficult.”

Bolokhovets went on to say that Forests of Ukraine will also continue to work to reduce costs, increase efficiency, and eliminate corruption. “This means a mandatory assessment and justification of investments, the most open and competitive procurement, [and] efficient use of equipment and other resources. Sale of unprofitable assets, optimization of the administrative apparatus. Reducing the cost of resources thanks to the construction of new forest roads. Finally eradicating the phenomenon of substitution of wood grade and other manifestations [of] corruption.”