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Silva Fennica 1926-1997
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Acta Forestalia Fennica
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Articles containing the keyword 'wood price'.

Category: Research article

article id 6999, category Research article
Virginia Morales Olmos, Jacek P. Siry. (2018). The Law of One Price in global coniferous sawlog markets. Silva Fennica vol. 52 no. 1 article id 6999. https://doi.org/10.14214/sf.6999
Highlights: The Law of One Price did not hold for North American, European and South American sawlog markets between 1995–2012; There are long-term relationships between some of the analyzed sawlog prices in these markets; The Law of One Price may hold between sawlogs traded in Sweden and Norway, Norway and Finland, and Canada West and US Northwest.

With progressing globalization of forest production, roundwood prices in different countries may follow similar trends. The Law of One Price (LOP) postulates that the price of a similar product should be the same in different markets when expressed in the same currency. The objectives of this research were (1) to test the LOP in selected coniferous sawlog markets, and (2) to analyze whether a common market – the European Union – leads to the existence of a single sawlog market. The analysis included Brazil, Chile, Finland, Germany, Norway, Poland, Russia Northwest, Sweden, the US South, the US Northwest, Canada East, and Canada West. The results suggest that some of the coniferous sawlog markets were cointegrated which means that they shared a long-term relationship even if in the short-term they do not necessarily adjust to each other. The LOP may hold between coniferous sawlog markets in Sweden and Norway from 1995 through 2012 when sawlog prices were expressed in USD, and in Norway and Finland for 2001–2012 for prices in EUR. Furthermore, the LOP may hold for North American markets in the West for 2004–2012.

  • Morales Olmos, Universidad de la República-Sede Tacuarembó, Ruta 5. km, 386.200, Tacuarembó, CP 45000, Uruguay ORCID ID:E-mail: vmolmos@gmail.com (email)
  • Siry, Warnell School of Forestry and Natural Resources, University of Georgia, 180 E. Green Street, Athens, GA 30602-2152, USA ORCID ID:E-mail: jsiry@uga.edu
article id 700, category Research article
Riitta H. Hänninen. (1998). Exchange rate changes and the Finnish sawnwood demand and price in the UK market. Silva Fennica vol. 32 no. 1 article id 700. https://doi.org/10.14214/sf.700
This paper examines the long-run influence of exchange rate changes on the Finnish sawnwood price in the United Kingdom (UK) using quarterly data for the period 1978–1994. The degree of influence was measured by a pass-through coefficient (PT) obtained from a markup pricing relation of a system model. The model, which included export demand and price equations, was estimated with the cointegration method of Johansen. The results indicated a large PT, which means that exchange rate changes are reflected almost proportionately in Finnish export price expressed in pounds sterling. Thus, the Finnish price of sawnwood in pounds has lowered as a result of depreciation of the Finnish markka (FIM). This has improved Finnish competitiveness and market share in the UK. Appreciation of the FIM has had the opposite effect. It seems that Finnish exporters have made use of depreciations and devaluations of the FIM to maintain and increase their market shares but not necessarily their markups. For Finland, which is in the process of joining the European economic and monetary union (EMU), knowing the size of the PT is also important in assessing the economic impact of membership.
  • Hänninen, Forest Research Institute, Helsinki Research Centre, Unioninkatu 40 A, 00170 Helsinki, Finland ORCID ID:E-mail: riitta.hanninen@metla.fi (email)

Category: Article

article id 7488, category Article
Viljo Holopainen. (1959). The concept of a roundwood price level and its determination in forestry. Acta Forestalia Fennica vol. 68 no. 6 article id 7488. https://doi.org/10.14214/aff.7488

Roundwood statistics are essential in a country such as Finland, where the roundwood market costitutes one of the most important internal markets. Determining the price level of roundwood can, however, be problematic due to the difficulty of the empirical determination. The main difficulties are the many timber assortments, quality differcences within a timber assortment, large variation of local prices due to variations in demand and harvesting conditions and in sales methods. The article discusses these problems from the perspective of composing a roundwood statistics for different timber assortments that would allow local and temporal comparison of the prices. It seems impossible to compose price statistics that could eliminate totally the variation in the material, transport conditions and demand fluctuations caused by technical development. However, one can suffice to a compromise that would eliminate the major disturbances and take into account other factors that are not related with market when studying the price series. In addition, the paper discusses methods for calculation of price indices.

The PDF includes a summary in Finnish.

  • Holopainen, ORCID ID:E-mail:
article id 7371, category Article
Einari Wuoti. (1942). Kuusisahapuun teknillisen ja pinokuution välinen suhde sekä sen riippuvaisuus muotoluokasta. Acta Forestalia Fennica vol. 50 no. 18 article id 7371. https://doi.org/10.14214/aff.7371
English title: Relation between technical and piled cubic meter of Norway spruce saw logs and their relation to form class.

Due to shortage of large logs, sawmill industry has been forced to buy also smaller logs, which also pulp industry uses as a raw material. Sawmills must be careful in the pricing of the logs, because profitability of sawing of timber depends on the size of the logs. These industries use different measures when they buy timber: pulp industry uses piled measure in meters, while saw logs are measured individually in cubic feet. The aim of the study was to develop sets of figures on technical cubic measure of a saw log and its relation to a piled cubic meter from the same log used as pulp wood. In addition, the effect of form class on the measures was studied.

The relation was assessed for trunks that had good, mediocre or unfavourable form class, which distinction is easy to make for a forest worker buying timber. The relations can be used by a buyer of saw logs or pulpwood who need to compare the prices or when the seller of the wood compares the offers.

The PDF includes a summary in German.

  • Wuoti, ORCID ID:E-mail:
article id 7266, category Article
Eino Saari. (1931). Tutkimuksia Suomen puuvanuketeollisuuden raaka-ainekustannuksista. Acta Forestalia Fennica vol. 37 no. 4 article id 7266. https://doi.org/10.14214/aff.7266
English title: Investigations into the costs of raw material in the Finnish pulp industry.

The article is a review on the wood procurement and cost of pulpwood in the Finnish mechanical and chemical pulp industry in 1922‒1926, based on statistics collected from the members of the Central Association of the Finnish Woodworking Industries (now Finnish Forest Industries), and the series Statistics of Industry and Foreign Trade. Wood trade is carried out by three types of sale: standing sales where the buyer of the wood takes care of fellings and transport (55% of the volume), contracts for the delivery of pulpwood (45% of the volume), and fellings in the own forests of the industry. Norway spruce (Picea abies (L.) H. Karst.) was the most important tree species, and was used almost exclusively especially in the mechanical pulp mills. According to the study, the demand of pulpwood increased markedly during the period. The stumpage prices did, however, not increase accordingly until in 1926. It is assumed that also the supply of wood was high after the World War I.

The PDF includes a summary in English.

  • Saari, ORCID ID:E-mail:

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