The timber market is rapidly recovering

Prime Minister of Ukraine urged representatives of all industries to resume business activities during martial law.

Thus, one of the first to recover was the timber market, which since mid-March is already functioning in its usual mode.

To ensure transparent and effective sale of state forestry resources the "Ukrainian Energy Exchange" LLC resumed electronic trading on March 12, 2022. This allowed the restoration of transparent, competitive and efficient trading in compliance with all norms of Ukrainian legislation.

"Our task is to ensure equal conditions and efficiency of sales. Of course, fair access to the resource can be ensured only through competitive procedures. In turn, this will accelerate the provision of enterprises with a resource that they need for a more or less stable operation, job preservation and payment of taxes to budgets. Also the Forestry will receive additional funds." - Konstantin Shevchuk, deputy CEO of the Ukrainian Energy Exchange LLC, said.

During the period from March 12 to March 29, 2022 127 auctions were held, which sold – 191 125,61 cubic meters for a total of more than UAH 655 millions. Additional revenue of the state, if compared with the original value of the sold volume, amounts to more than UAH 71 million. The most active sellers at the exchange trades were forestry enterprises of Kyiv, Khmelnytsky, Ivano Frankivsk, Cherkasy, Volyn and Vinnytsia regions.

It should be noted that woodworkers from many regions of the state applied to the leadership of the state. They asked to promote the exhibition on the exchange trades of licensed operators of 100% of the harvested resource by all forestry enterprises of Ukraine without exception.

"Only this approach will ensure an effective sale of state resource, equal access for all companies and decent income for forestry. We note that in the current situation, the sale of state assets without competition and at reduced prices is unacceptable and can be equated to looting, "- says the appeal of industry representatives on March 28, 2022.

"The State Forestry Agency plans to continue to work fruitfully on increasing the volume of harvesting and sale of the resource at competitive exchange auctions. We will continue to use effective systematic approaches that have already presented themselves in this difficult time, "- said the Chairman of DALRA Yuri Bolokhovets.

In general, the market is rapidly returning to normal mode and the number of trades is increasing, the schedule of which is available on the Exchange website and in the relevant Viber and telegram channels.