According to the latest report by the Natural Resources Institute Finland (Luke), timber trade heated up in 2024, with real prices for all roundwood assortments rising sharply and an exceptionally high volume of timber trade. Compared to the previous year, pulpwood prices increased the most, by 17-20% in standing sales by species and by 8-11% in delivery sales. The standing sales price of pine logs rose by 7% and the price of spruce logs almost as much.

The total amount of industrial roundwood purchased in 2024 was the second highest ever recorded. It exceeded the average of the previous year and the previous five years by one fifth.

Timber prices

• In 2024, the average price paid for spruce logs purchased from non-industrial private forests in standing sales was EUR 80.5 and EUR 77.2 per cubic metre for pine logs. The price of spruce logs increased by 6% in real terms and that of pine logs by 7% from the previous year.
• In standing sales of pulpwood, the average price of spruce rose to EUR 32.7, pine to EUR 30.6 and birch to EUR 31.2. Prices of the previous year were exceeded by 17-20% for each species.
• In delivery sales, prices for pulpwood varied between species, ranging up to around EUR 50 per cubic metre. The average price of pine increased by 11% year-on-year, while spruce and birch rose slightly less.
• The average price of birch logs has risen more than that of conifer logs in recent years. The average price of birch logs rose by 11% to EUR 65.1 in standing sales and by 4% to EUR 74.0 in delivery sales.
• Differences in timber prices between felling methods decreased slightly. Compared to the average 2024 stumpage prices, conifer log prices were 2-3% higher in regeneration fellings and 8-11% lower in thinnings. The price of pulpwood was 5-8% higher than average prices in regeneration fellings, but 2-5% lower in thinnings and around 20% lower in first thinnings.
• In Luke's wood trade statistics, price changes are examined in real terms, so that nominal prices in the past are converted into current money using the cost-of-living index. In 2024, inflation fell from the high levels of the previous two years to around 2%, so real changes in unit prices were that much lower than nominal price changes.

Trade volumes

• In 2024, a total of 48.8 million cubic metres of industrial roundwood was recorded in the wood trade statistics. This was the second largest volume ever recorded and only 5% lower than in the peak year of timber trade in 2018. Compared to the previous year, the total volume of timber trade increased by 18% and compared to the average of the previous five years, the increase was 20%.
• Among roundwood assortments, spruce logs and pine pulpwood were the most purchased, each accounting for almost a quarter of the total. Pine logs accounted for a fifth, birch and spruce pulpwood each for just over a tenth. The total volume of logs and small-sized logs purchased was slightly higher than that of pulpwood. Log trade increased by 19% and pulpwood trade by 12% from the previous year. 

Background information on the statistics
Unit prices in roundwood trade are recorded in the statistical database at the fair prices valid each time. However, price changes are examined in the texts and graphs in real terms by eliminating the change in value using the cost-of-living index. In 2024, the average inflation rate was around two per cent.

The recorded prices are based on prices entered in wood trade agreements between the buyers and sellers. Any other increments and services related to wood trade are not included in the statistics.

Wood trade data for statistics are provided by the largest buyers of wood and forest management associations. As the information is not rounded up to correspond to the total non-industrial private wood trade in Finland, the published wood volumes only represent about 90 per cent of the wood purchased by forest industries from non-industrial private forests.


Source: Luke