Latvia's Log Prices Fell In 2023

Central Statistical Bureau data published on April 2 show that, compared to the first half of 2023, average purchase prices of both coniferous and deciduous roundwood reduced in the second half of 2023.

The most significant reduction was recorded in the prices of birch sawlogs 18–24 cm in diameter and black alder sawlogs 18–24 cm in diameter.

In H2 2023, compared to H1 2023, the sharpest drop in the coniferous sawlog segment was registered in the prices of spruce roundwood under 14 cm in diameter (of 17% or 14 EUR/m3 on average), pine roundwood under 14 cm in diameter (15% or 14 EUR/m3 on average), and pine roundwood 14–18 cm in diameter (14% or 13 EUR/m3 on average)1. Smaller drop was recorded in the purchase prices of pine sawlogs 18–26 cm in diameter and pine sawlogs over 26 cm in diameter (9 EUR/m3 on average), spruce sawlogs over 26 cm in diameter (8 EUR/m3 on average) and spruce sawlogs 14–18 cm in diameter (7 EUR/m3 on average). The smallest decline was registered in the purchase prices of spruce sawlogs over 26 cm in diameter (7% or 8 EUR/m3 on average).

In H2 2022 roundwood purchase prices were the highest in the recent years.

In H2 2023, compared to H2 2022, timber prices on the market, even under the global crises, world economy challenges and instability, were rising in general. The most notable increase in the coniferous sawlog segment was recorded in the purchase prices of spruce sawlogs under 14 cm in diameter (27% or 34 EUR/m3 on average) and pine sawlogs under 14 cm in diameter (26% or 35 EUR/m3 on average).

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