Global wood fibre prices fell at the fastest rate in more than 20 years in the final quarter of 2008, it has been revealed.
Research by Wood Resource Quarterly (WRQ), found that the average softwood fibre price fell 12 per cent to $97.32 per oven-dry metric tonne.
Hakan Ekstrom, spokesperson for WRQ explained that the fall reflects both the impact of a strong dollar and a decline in consumption by the "struggling pulp and paper industries".
Mr Ekstom said: "The fourth quarter was a gloomy quarter for the global forest industry. Every price indicator pointed downward, including prices for pulp, paper, lumber and wood panels."
The cost of hardwood fibre fell by 11 per cent over the same period and these factors combined to increase the reluctance of landowners to harvest timber, he added.
Yesterday, figures released by Statistics Estonia revealed that the production of wood and related products in the country fell by 35 per cent year-on-year in January.
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