Manufacturing and Industrial Production Show Very Slight Increases
ResourceWise: Sep 29, '23
Increases in sawlog pricing applied to all global markets throughout 2022. Where and how will these trends potentially impact 2023 prices in North America and Europe?
To answer this question, you need to go to the numbers.
Wood Resources International, a ResourceWise company, recently launched another highly valuable product within its suite of data reporting tools: WoodMarket Prices. One of the strongest benefits WMP provides is simplicity in regional comparisons for current and historical pricing data.
For example, what does the data say relative to sawlog pricing between North America and Europe? Using WoodMarket Prices, you can assess the historical data to see what it may tell us about the future.
General Glimpse at the North American and European Sawlog Markets
Besides Northern Europe, we’ve seen increases across the board for North America and Europe.
The upward swing in prices began in the early part of 2020 after a dramatic fall to decade-low levels.
[Source: WoodMarket Prices]
Within the last two years, log prices jumped the most in the following areas:
- Central Europe (82% increase)
- Southeast Baltic Sea Region (58% increase)
- North America (33% increase)
- Nordic Countries (20% increase)
These record-level increases also vaulted the Global Sawlog Price Index (GSPI) 34% higher between Q2 2020 and 2022.
[Source: WoodMarket Prices]
The current state of the index is much higher than ten-year averages. In fact, this is the highest level recorded since the GSPI’s 1995 inception.
Predicting What’s to Come
With these record levels in mind, where will 2023 take us in terms of pricing trends? Should we expect things to keep trending upward and set new records? Or will we see yet another example of the trope ’what goes up, must come down’?
As anyone in this industry already knows, making accurate predictions on what’s to come is often notoriously difficult. This is exactly why you need data-driven reports to help plan and strategize.
Insight and help from industry experts are just as crucial as well. ResourceWise’s CEO and forestry expert Pete Stewart has already laid out his 2023 predictions for the global forestry industry. He says to expect demand to drop within the US, with European markets also feeling some of the effects of a recession.
While this isn’t the greatest news, knowing what’s to come can help your planning and decision-making immensely.
Data, News, and More in One Platform
Beyond the global sawlog market data, WoodMarket Prices also offers insights in all the following critical market areas:
- Global Pulpwood Market Updates
- Global Lumber Market Updates
- Global Pulp Market Updates
- Global Pellet Market Updates
Data comes from reliable, trustworthy sources with 30 years of raw-material price trends powering it. You can scale your comparisons based on regions, countries, products, types of wood, and more.
[WoodMarket Prices platform at a glance. Subscribers get actual data which you can customize to display for particular countries/regions, current and historical times, etc.]
Such an elevated level of precision will give you perhaps the most important piece of the puzzle: peace of mind and confidence. When you rely on WMP, you’re working with the best possible data for strategic decision-making in how you manage raw-material costs.
Check out WoodMarket Prices and schedule a demo to see how it works today.
