Recent years have seen the price of timber shoot up and on the back of the Covid pandemic many builders had to wait months for their wood to arrive, such were the shortages.
However, Timber Development UK reports that timber supply is now strong, and staying strong despite a recent decline in import volumes.
Overall import volumes in the first seven months of 2022 stand at 6.1 million cubic metres, 15% down from 7.2 million cubic metres imported during the same period in 2021. But stocks remain steady, with supply patterns returning to more pre-pandemic levels following record demand last year, Timber Development UK (TDUK) said.
Softwood imports are likely to fall further as the year progresses, with the TDUK softwood forecast predicting reductions of 500,000 m3 between the first and second halves of this year.
From the heights of around 7.6 million m3 imported in 2021, it is forecasted that overall softwood imports will fall to around 6.1 million m3 in 2022.
Though overall volumes are down, some categories have seen import growth, with hardwood imports up by 23% compared to 2021.
TDUK head of technical and trade Nick Boulton said: “The latest TDUK statistics may look gloomy at first glance, however falling import levels highlight healthy stocks and more ‘normal’ supply patterns compared to a chaotic 2021.
“It is unsurprising that overall import levels are below 2021 volumes. Last year witnessed record demand in the private housing and RM&I market, which will not be emulated this year.
“As predicted in our softwood forecast, we do expect demand and imports to slow further as the year progresses, with high energy costs and inflation harming consumer confidence in key sectors.
“This was echoed by our European counterparts at the International Softwood Conference last week, who cited the same reasons for falling continental import volumes in Q3 and Q4 2022.
“Despite the negative macroeconomic picture, the timber industry remains strong. The competitive advantage of timber products is that they are relatively low-energy to produce, particularly when compared to high-energy, and carbon-intensive products such as cement or steel. With a significant rise in energy prices expected this winter, these products are likely to face significant inflation.”
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