Vida Skog announced the increase of the wood prices in Sweden. Despite a more challenging market situation for lumber products, Vida's operation is standing strong thanks to efficient and well-invested sawmills and global sales channels, company said in a statement.

From 1 June, prices for the regular spruce and pine lumber will be increased by SEK 140 per m3fub ($12.8 per m3 of wood excluding bark) and the prices for logs by SEK 70 ($6.4) per m3fub. The price increases apply to Götaland region of Sweden.

"Right now timber prices are at a very high level. How the wood products market will look in the future is difficult to assess and depends on a variety of factors, such as the general economic situation and the global security situation. The sharp rise in interest rates has a negative impact on construction, and it is currently estimated that housing construction in Sweden will fall by around 50% this year compared to 2022. How consumption will look in autumn and winter is difficult to predict, but there are clear signs that there will be a further slowdown”, says Jörgen Henriksson, CEO of Vida Skog.

Vida Group employs 1.5 thousand people in 23 production plants, including twelve sawmills. Production is mainly focused on structural timber for a number of global markets. Seventy-five percent of Vida’s sawn wood products are exported to Europe, USA, Australia, Africa and Asia.

In 2018, Canfor Corporation acquired 70% of the Vida while previous owners of Vida retained 30% in the company. In 2020, Vida AB acquired the Swedish sawmill business of Bergs Timber. Vida's sawmill has a capacity of 2.7 million m3 of lumber. comparison).