- Timber prices in Estonia have started rapidly falling from their spring-time high;
- Estonian wood prices have fallen by about 20-25 percent;
- The bark beetle crisis and the global economic downturn are considered the cause;
- Damaged spruce timber has been available on European markets for less than €30 per cubic meter, whereas Estonian companies can’t afford to go lower than €60 per cubic meter.
The situation is described by industry insiders as serious and likely to impact the entire forestry sector. A cooling of the global economy and widespread damaged to spruce trees in central Europe are the likely culprits.