War in Ukraine halved the Russian lumber export prices

Since early 2022, Russian lumber export prices have fallen by 50%, attributed to import boycotts following the Ukraine invasion, reduced demand in China, and ruble depreciation. Russian lumber export prices have fallen from an early 2022 peak of $310/m³ to $163/m³ in Q3 2023, with significant declines observed in Russia's Northwest, Far East, and Siberia. Export volumes, reaching over 31 million m³ in 2020, decreased to around 23 million m³ in 2022. This year's estimate suggests a further decline below 21 million m³, marking a 25% or 4.6 million m³ decrease since ...