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Apr 12, 2022, 02:57 ET
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STOCKHOLM, April 12, 2022 /PRNewswire/ — Lumber trade flows changed almost instantly when Russia invaded Ukraine in late February. Trade sanctions and restrictions in financial transactions by Europe, North America, and major markets in Asia halted shipments from Russia and Belarus. In addition, exports from Ukraine were also disrupted. The total lumber exports from the three countries in the war zone were 34 million m3 in 2021. Over 25% of that volume was exported to countries with current sanctions against Russia and Belarus. In addition, the two major wood certification organisations, FSC and PEFC, have labeled all timber from the two countries as "conflict timber." The removal of the labeling means that the timber cannot be used in certified products, which will impact any country buying wood from Russia and Belarus and manufacturing certified products, e.g., lumber, plywood, pulp, and paper for sales worldwide.
The total volume of softwood lumber that is now unlikely to reach the market in Europe and Asia (outside China) because of sanctions is an estimated 10 million m3, or just over 30% of the total export volume shipped from Belarus, Russia, and Ukraine in 2021, reports the Wood Resource Quarterly. In addition, lumber sold to customers in China that require certified wood for manufacturing forest products targeting Europe and North America will no longer be available from Russia. Europe, which imported 8.5 million m3 of softwood lumber from the three countries in 2021, will be the hardest hit, as the lumber import volume accounted for close to 10 percent of the total consumption on the continent in 2021.
Although the Chinese government has not set up any barriers to trade between them and Russia, it is still conceivable that there will be interruptions in shipments between the two neighbors. Some of the factors that may reduce trade even with countries that have no sanctions with Russia and Belarus include:
Global trade flows of forest products have already changed significantly and will continue to change due to the Russian invasion of Ukraine. Even when peace is ultimately reached, it is improbable that trade will revert to pre-war patterns.
Are you interested in the worldwide wood products market information? The Wood Resource Quarterly is a 75-page quarterly report established in 1988 and has subscribers in over 30 countries. The publication tracks prices for sawlog, pulpwood, lumber, and pellets and reports on trade and wood market developments in key regions worldwide. For more insights on the latest international forest product market trends, please visit www.WoodPrices.com
CONTACT:
Wood Resources International LLC
Hakan Ekstrom
[email protected]
www.woodprices.com
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https://news.cision.com/wood-resources-international-llc/r/sanctions-against-russian-exports-will-permanently-alter-the-global-trade-of-forest-products,c3535331
The following files are available for download:
https://mb.cision.com/Main/1902/3535331/1556026.pdf
WRI-Market Insights 2022 – Russian forest products exports Mar 2022
SOURCE Wood Resources International LLC
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