An Irish Farmers' Association (IFA) timber price survey, which ran from July to September this year, has shown a decline in timber prices, according to IFA farm forestry chair Jason Fleming.

The economic uncertainty, due to the Russian invasion of Ukraine and a decline in consumer confidence due to the rising cost of living, are having an impact on prices, Fleming said.

“The significant price rises seen post-pandemic during 2021 and in the beginning of 2022 have declined in the last three months. According to the CSO, building and construction output was down 4.5% in the first quarter of this year and we are seeing this impact reflected in timber prices," he added.

The prices quoted for timber varied significantly, with roadside pulpwood prices ranging from €28 to €40/t, stakewood prices ranging from €35 to €44/t and palletwood prices ranging from €37 to €72/t, depending on the length of palletwood.

The prices for sawlog have experienced the greatest drop, with prices ranging from €80 to €110/t, representing a 20% decrease compared with 2021 prices.

Frustration

These prices quoted in the report were sourced from forest owners, forestry companies and sawmills.

Fleming said the downturn in prices adds to the frustration of many farmers who were unable to take advantage of the exceptional timber prices in 2021 due to delays as a result of the forest licence crisis.

“The variation in timber prices makes it even more important that farmers get several quotes before they make a decision.

"When farmers get a quote for palletwood, they should be aware that the price differs depending on the lengths of the product, as the price between different lengths varies considerably," Fleming said.

The full IFA timber market report for July to September 2022 is now available here.