Wood Resources International’s 2023 review emphasizes impact of Russia’s invasion of Ukraine

Wood Resources International
January 16, 2024
Category: Finance & Economics
Region: International

In its Global Forest Industry Summary for 2023, Wood Resources International (WRI) attributes tightening hardwood pulplog supply, decreased Russian lumber shipments and prices, and uncertainty in the European energy market to Russia’s invasion of Ukraine. …Russia’s invasion of Ukraine is cited as a primary cause for the tightening supply of hardwood pulpogs throughout the year. …An increased flow of wood products from countries with vast amounts of forests to those with fewer sources of wood has driven the global lumber trade over the past few decades, WRI explains. It raises Sweden as an example; whereas almost 80% of its lumber export volume was sent to European markets fifteen years ago, the current figure is closer to 55%. …WRI names the US as the world’s largest exporter of wood pellets. Shipments have steadily increased for over ten years, it says.

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