{"id":87662,"date":"2024-06-05T07:06:35","date_gmt":"2024-06-05T07:06:35","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/estonian-wood-sector-in-decline-wood-prices-expected-to-rise-due-fall-in-logging-activities\/"},"modified":"2025-09-19T09:02:09","modified_gmt":"2025-09-19T09:02:09","slug":"estonian-wood-sector-in-decline-wood-prices-expected-to-rise-due-fall-in-logging-activities","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/estonian-wood-sector-in-decline-wood-prices-expected-to-rise-due-fall-in-logging-activities\/","title":{"rendered":"Estonian wood sector in decline, wood prices expected to rise due fall in logging activities"},"content":{"rendered":"

The decline in turnover of Estonian loggers that lasted the whole of last year continued in the first quarter of 2024 in aggregate volumes. The overall cooling of the economy has clearly affected the price of wood. <\/span>During the corona, wood prices shot up vertically, but they came down just as quickly after the price rally. On the other hand, in the first quarter of 2024, certain signs of stabilization or even price growth in some assortments could be seen. However, the low demand has clearly reduced the volumes, and the turnover of the entire forest sector is still in decline.<\/p>\n

Wood consumers are cautious due to high interest rates and low confidence, so the Estonian wood industry has reduced its own production volume as demand for the products is modest. At the same time, a good example is firewood, where consistent demand keeps the price stable - based on the price statistics of the Estonian Private Forest Association, firewood has become cheaper by only 2.1% over the year. Therefore, the energy sector keeps the demand for firewood at a level comparable to last year, which in turn ensures price stability. In comparison, prices of rough log assortments have fluctuated by 10-20% year-on-year.<\/p>\n

The number of logging companies is decreasing and wages are increasing<\/strong><\/p>\n

All in all, the turnover of Estonian companies in the sector fell to 797 million euros in the first quarter of 2024, which was 7% less than in the previous quarter and 24% less than in the same period of the previous year. The decline in turnover mainly reflects the decrease in volumes, as prices have started to rise during the first quarter of 2024. The decrease in volumes also reduced the number of companies operating in the sector: they were 18% less than at the end of 2023. The number of companies decreased to a similar extent in all quarters of the previous year.<\/p>\n

While the sector's turnover and the number of active companies continued to decline in the first quarter of 2024, the number of employees decreased by only 0.6% compared to the first quarter of 2023. Against the background of the decrease in the volume of forest harvesters, it could be expected that the number of jobs in the sector would decrease, but this has not happened. Also, the real salary in the sector has actually grown strongly and the annual salary growth has been a solid 12%, which clearly exceeds the average inflation in Estonia.<\/p>\n

The future depends on interest rates and the economy as a whole<\/strong><\/p>\n

No major changes are expected in the Estonian wood sector until autumn 2024. It can be assumed that wood prices will still rise somewhat, due to the fall in logging activities in the spring. On the other hand, poor demand does not yet favor volume growth. Also behind the current spring price increase, especially in the pulpwood assortment, is the influence of the purchasing policy of Scandinavian industries, which have significantly increased their wood supplies from the Estonian market when spring arrives. The price increase does not mean revival of the local industry at the moment. Whether the local wood market will be able to get out from behind the dam in autumn depends to a large extent on interest rates. Because if the central bankers decide to ease the conditions, there is hope that the timber sector will grow again with larger volumes and better turnovers, which should also ensure reasonable profitability.<\/p>","protected":false},"excerpt":{"rendered":"

The decline in turnover of Estonian loggers that lasted the whole of last year continued in the first quarter of 2024 in aggregate volumes. The overall cooling of the economy has clearly affected the price of wood. During the corona, … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":84183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-87662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nEstonian wood sector in decline, wood prices expected to rise due fall in logging activities - 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\/estonian-wood-sector-in-decline-wood-prices-expected-to-rise-due-fall-in-logging-activities\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Estonian wood sector in decline, wood prices expected to rise due fall in logging activities - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"The decline in turnover of Estonian loggers that lasted the whole of last year continued in the first quarter of 2024 in aggregate volumes. 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