Norwegian sawlog prices continued to fall in September 2026, despite strong demand from European sawmills and rising exports of softwood logs. Spruce and pine prices have declined considerably from last year's highs, while timber harvesting remains close to record levels and foreign buyers continue to play an important role in Norway's domestic market.<\/p>\n
Norway harvested 10.45 million m\u00b3 of timber during the first nine months of 2026, up 1.4% from the same period last year, according to figures released by the Norwegian Agriculture Agency on October 13. Softwood sawlog exports increased by 29.5% in the second quarter, with Sweden remaining the principal destination.<\/p>\n
Norwegian sawlog prices fall further in September<\/strong><\/p>\n Average spruce sawlog prices declined to NOK 849\/m\u00b3 (approximately \u20ac80\/m\u00b3) in September, down 3.5% from June, according to Landbruksdirektoratet. Pine sawlog prices fell more sharply, dropping 6.2% over the same period to NOK 666\/m\u00b3 (approximately \u20ac62\/m\u00b3).<\/p>\n The latest figures extend a correction that began after Norwegian timber prices reached unusually high levels in 2025. Competition for raw materials had intensified as domestic processors and foreign buyers sought additional supplies, pushing prices well above their historical levels.<\/p>\n Statistics Norway's second-quarter figures show the scale of the adjustment. Spruce sawlogs averaged NOK 901\/m\u00b3 (approximately \u20ac84\/m\u00b3), down 14.5% from the corresponding quarter of 2025. Pine sawlogs averaged NOK 743\/m\u00b3 (approximately \u20ac70\/m\u00b3), a year-on-year decline of 25.6%.<\/p>\n The difference between spruce and pine reflects changing demand conditions and the markets served by the two species. Both have experienced substantial price reductions, although pine has recorded the sharper annual decline.<\/p>\n In a recent interview with Global Wood Markets Info, Knut Jacobsen Melum, Chief Sales Officer at Norwegian timber trading company Nort\u00f8mmer, described a market returning to more normal conditions following several years of intense competition for timber.<\/p>\n According to Melum, the previous price increases were driven by strong industrial demand and growing competition between timber trading organisations, particularly during late 2024 and the first half of 2025.<\/p>\n He expects smaller price adjustments in both directions as the market stabilises. The September figures nevertheless indicate that downward pressure continued throughout the third quarter.<\/p>\n Softwood sawlog exports increase nearly 30%<\/strong><\/p>\n Norwegian exports of coniferous sawlogs reached 952,214 m\u00b3 during the second quarter of 2026, compared with 735,550 m\u00b3 in the corresponding period of 2025, according to Statistics Norway.<\/p>\n The increase of 216,664 m\u00b3 represents growth of 29.5%, confirming the continued importance of foreign markets for Norwegian timber suppliers.<\/p>\n Industry figures also indicate that softwood sawlog exports increased by 24.5% during the first eight months of 2026 compared with the same period last year.<\/p>\n The expansion follows strong growth in 2025, when Norwegian softwood sawlog exports reached approximately 2.78 million m\u00b3, compared with 2.23 million m\u00b3 in 2024.<\/p>\n Sweden remains Norway's largest export market. In his interview with GWMI, Melum estimated that approximately 72% of Norwegian sawlog exports were destined for Sweden, with Germany and Latvia also among the principal markets.<\/p>\n Swedish sawmills have become increasingly important customers for Norwegian forest owners and timber traders. Established transport routes and proximity to production facilities make cross-border shipments commercially attractive, particularly from eastern Norway.<\/p>\n Germany provides another important outlet, while Baltic buyers contribute to demand for Norwegian timber in the wider European market.<\/p>\n The export trade has strengthened competition between domestic processors and foreign buyers, giving Norwegian forest owners access to customers beyond the country's relatively small domestic sawmilling industry.<\/p>\n \"By exporting logs we import European price levels,\" Melum told GWMI.<\/p>\n His observation describes how international demand influences domestic timber negotiations. Prices offered by Swedish and Central European buyers affect the expectations of Norwegian forest owners, even when individual shipments remain within Norway.<\/p>\n Harvesting remains high despite declining prices<\/strong><\/p>\n Norwegian harvesting activity has remained relatively stable despite the decline in sawlog prices.<\/p>\n Landbruksdirektoratet reported measured timber harvests of 10.45 million m\u00b3 during the first nine months of 2026, approximately 140,000 m\u00b3 more than in the corresponding period of 2025.<\/p>\n The increase of 1.4% suggests that the market correction has not yet resulted in a substantial reduction in harvesting volumes.<\/p>\n Statistics Norway recorded 3.62 million m\u00b3 of commercial roundwood removals during the second quarter, an increase of 6.5% year on year.<\/p>\n Spruce sawlog removals rose 7.8% to approximately 1.51 million m\u00b3, while pine sawlog removals increased 4.6% to 572,000 m\u00b3.<\/p>\n The combination of high harvesting volumes and declining prices indicates that timber supplies have remained substantial even as market conditions have weakened.<\/p>\n Forest owners' harvesting decisions depend on several factors, including existing contracts, forest management requirements, timber quality and the availability of buyers. Price movements therefore do not necessarily lead to immediate changes in production.<\/p>\n Melum previously told GWMI that Norwegian harvesting reached exceptionally high levels during the first half of 2026, although he expected activity to moderate during the second half of the year.<\/p>\n Eastern Norway accounts for approximately 70% of the country's timber production, according to Nort\u00f8mmer. The region has established harvesting infrastructure, relatively short transport distances to Swedish customers and access to domestic processing facilities.<\/p>\n These advantages have helped maintain Norway's position as a supplier of raw material to neighbouring European markets.<\/p>\n European timber shortages reshape competition<\/strong><\/p>\n Norway's growing export trade is closely connected to changes in European timber supply.<\/p>\n Melum said European sawmills have faced reduced raw material availability following extensive bark beetle damage, declining salvage logging volumes and the disappearance of Russian and Belarusian timber from several markets.<\/p>\n In Central Europe, the exceptional quantities of damaged timber harvested in previous years temporarily increased supplies. As salvage logging declined, some manufacturers faced renewed competition for available sawlogs.<\/p>\n Norwegian exporters have benefited from these changes, particularly where European buyers have sought additional sources of spruce and pine.<\/p>\n However, stronger export demand has also increased competition for raw materials within Norway. Domestic sawmills must compete with buyers whose purchasing decisions are influenced by prices and supply conditions elsewhere in Europe.<\/p>\n The result has been a closer relationship between Norwegian timber prices and developments in neighbouring markets.<\/p>\n The recent price correction suggests that the intense competition recorded in 2024 and 2025 has eased, although the influence of foreign buyers remains substantial.<\/p>\n Norwegian timber prices unlikely to return to earlier levels<\/strong><\/p>\n Despite the latest declines, Melum does not expect Norwegian sawlog prices to return to their pre-pandemic levels.<\/p>\n Higher harvesting and transport costs, competition for suitable timber and the integration of Norwegian supplies into European markets continue to influence price expectations.<\/p>\n For domestic sawmills, lower log prices offer some relief after a period of exceptionally high raw material costs. Profitability nevertheless remains dependent on finished lumber prices, production efficiency and demand from construction and industrial customers.<\/p>\n Exporters face a different balance. Norwegian timber remains attractive to foreign buyers when prices, transport costs and availability compare favourably with alternative European supplies.<\/p>\n The Norwegian Agriculture Agency's September figures show that the market is still adjusting after the sharp price increases of previous years. Spruce and pine sawlog prices continued to decline through the third quarter, while harvesting remained slightly above 2025 levels.<\/p>\n At the same time, the latest export figures point to sustained demand from European customers, particularly Swedish sawmills. Norway's timber market remains closely tied to developments across Europe, with international demand continuing to influence the prices paid to Norwegian forest owners.<\/p>","protected":false},"excerpt":{"rendered":" Norwegian sawlog prices continued to fall in September 2026, despite strong demand from European sawmills and rising exports of softwood logs. Spruce and pine prices have declined considerably from last year’s highs, while timber harvesting remains close to record levels … Continue reading