Timber prices in the UK are on the rise as raw material costs are expected to continue on an upward trajectory following Brexit.
In the latest national statistics on Timber Price Indices produced by the Forestry Commission, growth has been seen for the Coniferous Standing Sales prices over the last five years, although its latest figures showed an improvement in one of its two core sectors.
In addition, the index highlighted that prices in the year to September 2016 were 8.3% lower at at £17.31 per cubic metre compared to £18.24 in 2015. But, over the five year period, prices in this sector has rose by 8.7%, and are expected to grow following Brexit.
Within its other index sector for Softwood Sawlog, prices rose by 13.6% to £44.19 per cubic metre, which is from £38.63 in 2015, whilst also showing a 6.8% growth from its average price of £41.34 in the six months leading to March 2016.
The new data could impact the UK furniture industry with manufacturers having to fork out higher costs for timber, which could in turn pose threats on increasing other prices, ultimately impacting the consumer.
Source: Cabinet Maker
