Timber market soars says TTF

The value of the timber and timber panel products industry grew by more than a quarter in 2007, according to the Timber Trade Federation’s (TTF) 2007 Annual Statistical Review.

The growth in the value of the market has been driven by a number of factors including an unprecedented combination of cost pricing pressures, being felt by many primary producing industries, as well as overall higher demand for timber and timber panel products.

Key conclusions of the UK Timber Industry Statistical Review:

·Volume of timber and panels traded in the UK in 2007 rose from

17 million m3 to 18.2 million m3

·UK production of softwood rose above 3 million m3 for the first time, an increase of 8% on 2006

·85% of the value of all timber and panels consumed came from UK and Europe

·Imports accounted for 67% of UK volume consumed

·Share of all timber and panel consumption of UK produced goods rose from 29.3% in 2006 to 31% in value terms during 2007

·UK producers now supply 26% of all softwood consumed by volume in the UK

·UK production of hardwood continues to fall down to 45,000 m3 in 2007

John White, chief executive, TTF: “The statistical review has shown that the timber industry faced a number of significant challenges during 2007 with demand and primary costs increasing during the year. However, the industry has changed to become much more customer focused and I am confident that we are ready to meet the challenges of 2008 head on and we will continue to have a thriving UK industry.”