More than seven million m3 of
timber and panel products were imported by the UK between January and July
2021, according to the latest Timber
Trade Federation (TTF) Market Statement.
This is nearly two million m3 above the same period in 2020, and
half a million m3 above 2019 levels – the UKs last ‘regular year’
before COVID-19 – which is about an 8% increase.
These record-breaking volumes of imports reflect high demand for timber
products with a strong RM&I sector and a resurgent private housing market
having kept supply on allocation.
Timber prices, and structural softwood in particular, experienced rapid
increases over the course of 2021, a trend explored in an earlier joint timber
industry Market
Statement in July.
These latest TTF statistics show the average price of sawn and planed
softwood in May, June and July rose by 55%, 65% and 88% respectively over their
corresponding months in 2020.
Nick Boulton, TTF head of technical
and trade, said: “After a year of record production and nine months of
near record structural softwood imports it is highly likely the UK is at a
point where there is sufficient volume of wood at UK ports and in the UK timber
supply chain to satisfy construction demand.
“With Q3 now behind us, which we viewed
as a real pressure point this year between supply and demand for timber
products, we expect that over the coming months we will find there is greater
stability within the UK market.
“However we are not yet out the woods as
any return to ‘regular’ patterns within the UK market will be difficult amidst
the ongoing shortage of HGV drivers, and in fuel and labour, which are likely
to continue to impact the market in the coming months.
“These shortages are of high concern to
the timber supply chain as while there may now be enough timber in the UK to
meet demand it does little good to anyone when there are no means to transport
stock from ports to warehouses or customers.
“The challenges posed by these shortages
are being felt right across the UK economy, and as discussed in our Market
Statement, you can view their impact in the latest statistics coming out from
the construction sector with growth shown to be tailing off in June and July.
“Despite these challenges, we are
confident the timber supply chain can continue to rise to meet the growing
demand for sustainable, low-carbon construction materials we are seeing in the
market – as it has done so for the past 20 months.
“The UK timber supply chain has proven
to be remarkedly resilient amidst an ongoing series of intense global and local
pressures which have rippled out since the pandemic, as evidenced through the
impressive import volumes reached in 2021.
“As a low-carbon, and crucially – amidst
a looming global energy crisis – low-energy construction material, timber is
likely to grow as the material of choice among climate conscious architects,
engineers, developers and planners in the UK.”
