UK timber prices on the rise as raw material costs are expected to continue the upward trend following Brexit.
According to the latest National Statistics on Timber Price Indices produced by the Forestry Commission released on 10 November 2016, Coniferous Standing Sales prices have been experiencing an increase over the last five years, although its latest figures showed an improvement in one of its two core sectors.
The index highlighted that prices in the year to September 2016 were 8.3% lower at £17.31 per cubic metre compared to £18.24 in 2015. However, over a five year period, prices in this sector has risen by 8.7%, and following the Brexit results, prices are expected to grow.
Within its other index sector for Softwood Sawlog, prices rose by 13.6% to £44.19 per cubic metre from £38.63 in 2015, whilst also showing a 6.8% growth from its average price of £41.34 in the six months 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.