The lumber market in Russia shows growth in the first months of 2024

Based on the results of the first months of this year, the forestry industry is demonstrating quite positive dynamics. Rosstat published the first operational data on lumber production.

So, according to published information:

• production of softwood and hardwood lumber in the Russian Federation in January 2024 increased by 7.1% year on year, the figure amounted to 2.9 million m3 (compared to December 2023, the decrease was only 4.7%, while in recent years in January production decreased by 10–15% compared to December of the previous year);

• the greatest growth was shown by statistics for Siberia: production in January 2024 increased both on an annual and monthly basis - by 11% by December 2023 and by 22% by January 2023, the figure was 1, 1 million m3 (in addition, Siberia showed the greatest growth based on the results of the entire 2023).

At the same time, average prices for lumber in Russia in February 2024 increased by 0.9%. The smallest increase was recorded in the Siberian Federal District, where lumber prices rose by only 0.2%, the largest in the Northwestern Federal District, where prices rose by 1.1%.

Olga Kalyuzhnaya, President of the Russian Timber Association: "The slowdown in the decline in exports and the increase in supplies to the domestic market supported production: at the end of 2023, according to Rosstat, lumber output decreased by less than 2% compared to the previous year - up to 28.5 million m3. The Russian timber industry is adapting to changing markets and demand with varying degrees of success. Thus, despite the fact that the production of fuel pellets has decreased, the production of wood boards has increased. The investment vector in 2024 may change direction towards creating our own equipment development, digitalization, planning and control of work, expanding the product line, logistics".