Sawlogs Price Indices
Sawlog Price Indices
Log costs account for 65-70% of the production costs when manufacturing softwood lumber. Consequently, having access to prices for sawlogs by country, by continent, and globally for benchmarking purposes is crucial for determining the competitiveness of a region’s sawmilling industry. WRI has introduced two sawlog price indices, one price index for Europe and one global, both published each quarter in the Wood Resource Quarterly (WRQ) since the 1Q/95.
Average sawlog prices from 18 regions around the world are the basis for the volume-weighted Global Sawlog Price Index (GSPI).
Prices for commonly used log species and grades to manufacture construction and better grades of lumber in each region are collected quarterly.
The GSPI price index includes data from the following regions:
- North America - Western Canada, Eastern Canada, US Northwest and US South
- South America - Brazil and Chile
- Europe – Austria, Czech Republic, Estonia,
Finland, Germany, Latvia, Norway, Poland, and Sweden
- Asia/Oceania – China, Japan and New Zealand
The European Sawlog Price Index (ESPI), established in 1999 and denominated in Euros, is a volume-weighted price index comprising of average sawlog prices in nine of the largest log-consuming countries in Europe (see above). The Index tracks prices from the 1Q/99 to the current quarter and is published in the WRQ.
The Global and European Sawlog Prices Indices have fluctuated substantially over the past 25 years, with the following highlights (in cubic meter under bark):
|Global (GSPI)||Europe (ESPI)|
|Initial Index||$71.82 (1Q/95)||€71.29 (1Q/99)|
|Record low||$53.59 (4Q/01)||€64.67 (3Q/03)|
|Record high||$90.49 (2Q/11)||€90.33 (1Q/14)|
For the most current Price Indices, please consult the latest issue of the WRQ.