Russia’s timber sector poised for rebound despite rising domestic costs

Russia’s government is doubling down on efforts to revive the timber sector, once worth $20 billion annually, as President Vladimir Putin highlighted the industry’s potential during a video conference with senior officials on Monday. “Forestry still holds large reserves and strong prospects for growth,” Putin said while commissioning three new facilities, including a full-cycle particleboard plant in the Kaluga Region, a decorative laminated plastics factory in the Leningrad Region, and a new liquid food packaging line near Moscow. The comments come as Russian lumber prices continue to rise, climbing between 11% and 14% year-on ...