{"id":79862,"date":"2020-10-02T06:41:18","date_gmt":"2020-10-02T06:41:18","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/bc-forest-companies-take-full-advantage-record-lumber-prices-fully-take-advantage-record-lumber-prices\/"},"modified":"2025-09-19T08:54:10","modified_gmt":"2025-09-19T08:54:10","slug":"bc-forest-companies-take-full-advantage-record-lumber-prices-fully-take-advantage-record-lumber-prices","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/bc-forest-companies-take-full-advantage-record-lumber-prices-fully-take-advantage-record-lumber-prices\/","title":{"rendered":"BC forest companies to take full advantage of record lumber prices"},"content":{"rendered":"

A record demand and reduced supplies have pushed the price of 2x4s to historic highs but the B.C. forest industry is only just beginning to fully take advantage.<\/em><\/p>\n

The industry has been plagued by an acute lumber shortage, which has been a long time in the making.<\/p>\n

Lumber prices across North America have nearly tripled since 2019. Based on a weekly price report by the B.C. Ministry of Forests, Lands and Natural Resources, the price of SPF (spruce, pine, fir) 2x4 lumber \u2013 as of Sept. 18 \u2013 is at $1,288 per thousand board feet, up from a 2019 average annual of $499.<\/p>\n

Skyrocketing prices during the past four or five months have upped the cost of building an average single-family home by $10,000 to $20,000, said Brett Giese, president and owner of Crowne Pacific Development Corp. and Veyron Properties Ltd.<\/p>\n

\u201cWe were first faced with the challenges of price increases and now, despite record high prices the situation has been compounded by a shortage of supply,\u201d said Giese.<\/p>\n

Calling the dilemma a \u201conce-in-a-lifetime phenomena,\u201d Joel Neuheimer, vice-president of international trade at Forest Products Association of Canada (FPAC) said the high price is because of increased demand after the onset of COVID-19.<\/p>\n

Home renovation and remodelling projects that people began during lockdown coincided with construction projects that typically begin in spring. This led to increased demand for lumber across North America, including the United States, where B.C. exports 65 per cent of its lumber.<\/p>\n

But the industry was not in a position to take advantage. Baggage from previous years \u2013 mill closures and curtailments, wildfires, pine beetle infestations, complex stumpage systems and regulatory policies, and a lengthy strike \u2013 had limited B.C.\u2019s fibre supply.<\/p>\n

There\u2019s also uncertainty about consistent access to fibre which creates a cost burden for the industry, said Susan Yurkovich, president and CEO of the B.C. Council of Forest Industries (COFI).<\/p>\n

\u201cWe had a 70 million cubic meter annual allowable cut in the Interior in 2007, that\u2019s about 50 now and expected to go down, just under 40 by 2030,\u201d she said. There was a lot of downtime through 2019 and 2020 as prices dropped and a lot of lumber was coming off the market as mills were shutting down due to high cost structures, said Yurkovich.<\/p>\n

It took a while for production to catch up with the demand, resulting in a lumber shortage between June and August. The shortage fed a 15 per cent drop in B.C.\u2019s lumber export value, costing the industry more than $1 billion. Forest ministry statistics from July 2020 showed B.C.\u2019s export value decreased year-to-date in July 2020 ($6.1 billion) compared to July 2019 ($7.5 billion).<\/p>\n

The supply chain was further disrupted when production halted as mills in B.C.were shut for two to three weeks after the onset of the pandemic, creating a backlog on lumber orders. The price of fibre in B.C. is extremely high relative to the rest of the Canada making it a high-cost jurisdiction that typically thrives under market conditions when lumber is expensive.<\/p>\n

So, despite the lumber shortage, B.C.\u2019s sawmills welcome the price hike as it helps them sustain their overhead.<\/p>\n

The real problem is when the lumber price goes low, said Yurkovich. Come winter, lumber prices might go down, said Neuheimer, adding that construction typically slows then and picks up again during spring. Yurkovich expects the fundamentals of supply and demand to remain fairly good for a while. \u201cSo we might see a high price environment for a while but it is a commodity, so prices go up and down,\u201d she said.<\/p>","protected":false},"excerpt":{"rendered":"

A record demand and reduced supplies have pushed the price of 2x4s to historic highs but the B.C. forest industry is only just beginning to fully take advantage. The industry has been plagued by an acute lumber shortage, which has … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":64294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713,4716,4715],"tags":[4018,3306,3945,3383],"class_list":["post-79862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","category-latest-trends","category-market-analysis","tag-bc","tag-lumber","tag-lumber-prices","tag-sawmill","topic-forestry","topic-industry-prices","topic-sawmilling","topic-wood-construction","area-north-america"],"acf":[],"yoast_head":"\nBC forest companies to take full advantage of record lumber prices - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/bc-forest-companies-take-full-advantage-record-lumber-prices-fully-take-advantage-record-lumber-prices\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BC forest companies to take full advantage of record lumber prices - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"A record demand and reduced supplies have pushed the price of 2x4s to historic highs but the B.C. forest industry is only just beginning to fully take advantage. 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