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June 23, 2021
Latvia: There is a bubble in the timber market that will burst sooner or later
Currently, the Latvian lumber market is experiencing a significant price increase or bubble, which will sooner or later burst, Kristaps Klauss, Executive Director of the Latvian Wood Industry Federation (LKF) stated for the Latvian media. He explained that 90% to 95% of the industry's processing output, excluding firewood, is exported, so that the price of the output is largely determined by developments in foreign markets. In Europe, the prices of lumber have doubled during the year, in the US - even three times. In turn, the rise in prices for wooden furniture has been "unusually large ...
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