Last week’s auctions at the Ukrainian Energy Exchange for untreated timber showed the following results:
- the volume sold amounted to 7.33 thousand cubic meters;
- 4.74 thousand cubic meters of wood were sold;
- the cost of wood sales amounted to UAH 17.77 million (including VAT);
- forest agencies received additional income during the English auction in the amount of UAH 1.61 million (including VAT).
Untreated timber was sold by forestry enterprises from 5 regions of Ukraine. The largest volume was sold in Zhytomyr region.
The distribution untreated timber sales was as follows: 59% - round timber, 41% - firewood.
Round timber
During the reporting period, the company sold 2.80 thousand cubic meters of round timber for a total amount of UAH 14.14 million (including VAT).
Pine, oak, and spruce were the most popular species sold, with their share in the total structure amounting to 73.75%, 14.02%, and 3.65%, respectively. We also sold such species as beech, ash, birch, fir, alder, and aspen.
Firewood
During the reporting period, sales of firewood amounted to 1.94 thousand cubic meters worth UAH 3.63 million (including VAT).
Only firewood for industrial use was sold.
Among firewood, pine and beech firewood were in the highest demand, accounting for 77% and 10% of total sales.
The graph below shows the structure of firewood sales by grade and species.
Price indices
The largest increase among the price indices for round timber was recorded on the shore - the weighted average cost was UAH 6,083.34 per cubic meter including VAT.
In turn, the maximum decline was observed for oak. The weighted average price index amounted to UAH 10,509.49 per cubic meter including VAT.
Weighted average timber price index, for June 23-27, 2025
| Species | UAH/cubic meter (including VAT) |
|---|---|
| Swamp birch | 6,083.34 |
| Forest beech | 3,361.60 |
| Black alder | 6,640.22 |
| Common oak | 10,509.49 |
| Common pine | 4,457.63 |
| European spruce | 4,375.83 |
| White fir | 4,518.86 |
| Common ash | 7 313.42 |
The price index for industrial wood decreased last week, reaching UAH 1,873.54 per cubic meter including VAT, which is 9% less than in the previous period.
Overview of news on the timber market in Europe
Norway breaks logging record, logging prices hit record high
In the first quarter of 2025, Norway recorded record logging volumes, with about 3.5 million cubic meters of wood cut for industrial use. At the same time, the average price of timber reached a record 834 NOK per cubic meter (approximately 73 euros), showing a steady increase since 2023. For comparison, over the past 15 years, the price has fluctuated between 420 and 560 kroons (37 and 49 euros). This trend is driven by increased demand for raw materials.
The Swedish woodworking industry is under pressure from several directions, but there are bright spots
Sweden’s heavily export-dependent woodworking industry is currently under pressure due to global instability and a shortage of raw materials, which are approaching anti-record levels last seen in the 1990s. This creates challenges for the country’s sawmills.
Despite the challenges, the market is showing the first signs of optimism. These include an increase in the ROT tax deduction, lower interest rates, and a certain recovery in the construction sector. In addition, the industry has approved a new range of pine construction timber, which may help stimulate demand. In 2024, the total volume of timber supplies in Sweden amounted to only 3.7 million cubic meters, the lowest in the last 30 years, while in favorable years the construction sector consumes up to 3 million cubic meters on its own.
Timber in Europe undergoes strategic transformation through acquisitions
The European sawn timber market is experiencing a wave of active M&A activity, with a total value estimated to exceed EUR 450 million. This includes more than EUR 160 million of disclosed deals and a number of large undisclosed transactions, including the acquisition of distressed assets. The ongoing consolidation indicates a systemic shift towards market concentration, which may reduce price volatility and at the same time create a new competitive advantage for integrated players and production centers in the Baltic States.
The trend covers the period of 2024-2025: in particular, Stora Enso acquired the Finnish Junnikkala plant for 137 million euros, expanding its capacity by 700 thousand m³, and HS Timber Group made two strategic acquisitions in Latvia with a total capacity of 550 thousand m³. Estonian company Combiwood, in turn, acquired AS Toftan, creating a new powerful player with annual revenues of EUR 276 million.
Estonia: 10 leading sawmill and timber producers
At the beginning of 2025, the Estonian woodworking industry is showing mixed dynamics: total turnover has slightly increased, but is concentrated mainly among large companies, including powerful sawmills. At the same time, small and export-oriented producers are operating in difficult conditions due to declining demand. In the first quarter, the Primary Processing segment reported a 6.5% increase in turnover to EUR 990 million, driven mainly by the successful performance of several key players. Despite the pressure on payroll, the companies managed to optimize headcount and increase productivity.
Top 10 processors by turnover in the first quarter of 2025:
- Viiratsi Saeveski AS: €18 545 000 (growth by 17,8%);
- Toftan AS: €16 383 000 (growth by 10,6%);
- Vara Saeveski OÜ: €8 017 000 (growth by 38,0%);
- Eesti Puidumüügikeskus TüÜ: €9 202 000 (decrease by 11,3%);
- Combimill Sakala OÜ: €7 401 000 (growth by 6,1%);
- Combimill Reopalu OÜ: €6 543 000 (decrease by 11,4%);
- Leventek OÜ: €5 960 000 (growth by 28,1%);
- Aegviidu Puit AS: €5 637 000 (growth by 22,9%);
- Reta Puit OÜ: €6 261 000 (decrease by 16,2%);
- Reinpaul OÜ: €5 332 000 (decrease by 30,2%).