The forecast for British Columbia’s forestry sector in 2024 is far from optimistic

Throughout much of 2023, Canadian lumber output saw a significant decline, exceeding 20% compared to the previous year, particularly noticeable in British Columbia. This reduction reflects the impact of higher interest rates and subdued global economic growth, shaping a challenging landscape for the industry. Looking ahead to the first half of 2024, prospects remain uncertain, with lingering difficulties anticipated for the forest sector. A concerning development is the recent fall in lumber prices, dropping below US$400 per thousand board feet, notably hitting the break-even point for many producers in both British Columbia and the United States. Notably ...