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Supply of timber falls short due to high post-lockdown demand

Date: August 05, 2021 Sunil Jha Sunil Jha
Supply of timber falls short due to high post-lockdown demand 
Timber prices have reportedly skyrocketed, with builders failing to meet demand as a result of post-lockdown DIY projects and construction boom. According to the Timber Trade Federation (TTF), timber suppliers are working around the clock but are still struggling to catch up with the demand.



According to report, climate change is also putting a strain on supplies by causing more wildfires and bugs that destroy trees. 



The United Kingdom imports around 80% of its timber, and many are pushing for the development of the country's forestry industry.



The government stated that it is committed to tripling the rates of tree planting by the end of this Parliament and establishing many more woodlands to increase supply and demand for UK-grown timber.



Sweden, which produces over half of the structural timber used in the UK, has the lowest ever stock levels for twenty years.



The TTF's chief executive, David Hopkins, stated that the COVID-19 pandemic has been the most significant element generating supply and demand concerns. However, there are other variables at work.



Massive forest fires have increasingly been blazing across North America, taking a lot of the timber completely out of production. Fires, and now bugs, are removing a considerable amount of wood from the market, Hopkins added.



Managing director of Pryor & Rickett Silviculture, Graham Taylor, who oversees about 50,000 acres of forest area in the United Kingdom, stated that there was no question that climate change has been wreaking havoc on the world's natural forests and that harvests were declining.



Canada is lowering its annual cut as its forests are being endangered by fire, pests, and disease. Because it is such a large producer, when it withdraws, the rest of the world suffers. Taylor added.



As cities and urban areas grow, designers and architects are starting to recognize the need to decarbonize the overall built environment. According to the World Bank, demand for wood products is expected to rise by 4% per year for the forthcoming 3-4 decades.



Source credit: https://www.bbc.com/news/science-environment-57920510

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.