Estonian wood pellet producer Graanul is expected to produce around 2.2mn t of wood pellets in 2024, ratings agency Fitch said in a report on 17 October. Graanul's pellet production is expected to see "a gradual recovery to around 2.6mn t in 2027", Fitch Ratings said. Graanul's earnings are expected to improve from 2024 rising to €94mn ($102mn) from €61mn a year earlier, mostly because of additional contracted volumes as well as higher spot sales, Fitch said. Adding that this followed successful renegotiation of a loss-making contract with its largest customer, UK utility ...
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