According to the report from the Japanese Ministry of Finance, Japan softwood lumber imports increased by 23% year-on-year to 1,856 thousand cubic metres for the year to June – with global importers now commanding the world’s highest prices ($353 per cubic metre), more than compensating for the higher costs faced by European and North American timber mills.

According to government data, Canada leads the way with 460,000 cubic metres of softwood (an increase of 37% or 25% of total imports), followed by Sweden with 369,000 cubic metres (up 36%), Finland with 289,000 cubic metres (up 5%), and Russia, one of the few Western countries that has not enforced sanctions, with 265,000 cubic metres (also up 12%).