Forestry Statistics 2008 - Finance & Prices

Timber prices

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The Forestry Commission has collected information for many years on the prices of conifers sold standing by the FC and publishes a Coniferous Standing Sales Price Index (CSSPI) every 6 months for overlapping 12 month periods. A softwood sawlog price index, providing information for 6-month periods on prices (delivered to roadside), of coniferous sawlogs produced by the Forestry Commission, is also published. Both series are published in Timber Price Indices on the Forestry Commission website. There is little other information on wood prices before primary processing and no price index is available for broadleaves. Prices for outputs of primary wood processing are collected by the Office for National Statistics (ONS) in the Producer Price Indices (PPIs), and these are available in the MM22 Business Monitor which gives detailed PPIs monthly.

The coniferous standing sales price index for Great Britain was 42% higher in real terms in the year to March 2008, compared with the previous year. The softwood sawlog price index was 14% higher in real terms in the 6 months to March 2008, compared with the corresponding period in the previous year.

Table 7.1 Coniferous standing sales and sawlog price indices1 for Great Britain, 1999-2008

Period ending March

Standing sales

Sawlogs

Nominal terms2

Real terms3

Nominal terms2

Real terms3

index (period to September 1996 = 100)

1999

51.1

47.778.172.9

2000

49.745.583.976.7

2001

45.4

41.0

81.6

73.6

2002

43.2

38.1

75.366.3

2003

33.628.772.862.2

2004

32.627.170.358.3

2005

34.527.974.760.3

2006

39.931.671.356.4

2007

45.435.080.662.0

2008

66.449.694.470.5

Source:  Timber Price Indices (data to March 2008)

Notes:

1.  The price indices are constructed from information on Forestry Commission sales only.

2.  Nominal prices are the actual prices at that point in time.

3.  Real terms values are obtained by using the GDP deflator to convert to 'constant prices' (in this case prices in 1996). This allows trends in timber prices to be tracked without the influence of inflation.

Figure 7.1  Coniferous standing sales and sawlog price indices1 in real terms2, 1984-2008

Figure 7.1 Coniferous standing sales and sawlog price indices in real terms

Source:  Timber Price Indices (data to March 2008)

Notes:

1.  The price indices are constructed from information on Forestry Commission sales only.

2.  Real terms values are obtained by using the GDP deflator to convert to 'constant prices' (in this case prices in 1996). This allows trends in timber prices to be tracked without the influence of inflation.

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