Russian Lumber Markets: Hakan Ekstrom, Director, International Forest Products Sector

By Hakan Ekstrom
ResourceWise in Hellenic Shipping News
December 18, 2023
Category: Finance & Economics
Region: International

Russia was the world’s largest exporter of softwood lumber in 2020 and 2021. In 2022, shipments fell dramatically, resulting from Russia’s invasion of Ukraine and the boycott of Russian forest products in Europe, North America, and key markets in Asia. Export volumes have plunged from a record high of over 31 million m3 in 2020 to about 23 million m3 in 2022. The decline has continued in 2023, with shipments estimated to reach less than 21 million m3 for the year. The halt of sales to Europe resulted in a 4.6 million m3 drop in export volume from 2021 to 2023. Most of the lost shipments to Europe, mainly from sawmills in the Northwestern province, have not been redirected to other importing countries in Asia, CIS states, or the MENA region as some lumber manufacturers in Russia had hoped. Instead, export volumes to Russia’s traditional markets have declined over the past two years. 

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