Demand for timber and panel products in the first quarter of 2021 was at its highest since the previous high for a Q1 back in 2007.

The latest Timber Trade Federation (TTF) figures – TTF Timber Statistics, Industry Facts & Figures June 2021 – show that the UK sucked in just under 3 million m3 of timber and panel products in Q1, some 23% more than in Q1 2020.

The TTF also notes that the latest three quarters growth has been the highest period of growth this century – even greater than the growth following the severe recession of 2008/2009.

Softwood imports in Q1 this year were up 31% on Q1, 2020, with cumulative volume at 1,894,000m3 (2020: 1,446,000m3).

Market leader Sweden exported over 40,000m3 (6%) more to the UK in Q1 2021 compared to Q1 2020, but this increase was dwarfed by the volumes from Latvia (119,000m3 more), Finland (99,000m3 more) and Germany (83,000m3 more). As a result, Sweden lost some of its share of market supply – down to 37% in Q1 this year, as against 46% in Q1, 2020.

The value of sawn goods in Q1 was up on Q1 2020 by 74%, while the value of planed goods was up 73%.

In contrast, hardwood imports were down 7.2% in the quarterly comparison periods, with cumulative volume at 117,000m3 (2020: 126,000m3).

The TTF notes a “surge in volume” from the Republic of Ireland and Latvia, confirming “the current appetite for cheaper grades of sawn hardwood” and that the share from oak supplying countries, such as the US, France and Italy, has reduced as a consequence.

The value of hardwood imports in Q1 this year fell by 13% to £63.5m.

Total plywood imports were 10% up in Q1 this year, compared to Q1 2020, with cumulative volume at 426,000m3 (2020: 387,000m3).

Hardwood plywood imports were up 12.6% in the comparison periods, with cumulative volume at 274,000m3 (2020: 243,000m3).

The 31,000m3 increase in volume is largely down to further growth in deliveries from China, which still leads the supplying countries table, accounting for 65% of share. Finland also increased shipments to the UK (up 24%) and now accounts for 8% of supply share (2020: 3%).

Russia and Malaysia shipped less to the UK, with volumes down 37% and 25% respectively.

Softwood plywood imports were up 5.8% in the comparison periods, with cumulative volume for Q1 at 152,000m3 (2020: 144,000m3).

The increase is largely down to China and Finland, who both shipped around 8,000m3 more to the UK in the period. Volumes from the main suppliers in South America fell in Q1 this year.

Chipboard imports were down by 7.1% in Q1 this year, compared to Q1 2020, with cumulative volume at 159,000m3 (2020: 171,000m3).

The TTF notes that the pattern of supply has changed radically, with Germany retaining its leadership, with a share of around a third of import volume, but imports from France falling by nearly 22,000m3, or about a half. Supply from Portugal rose by around 14,000m3, more than doubling its share of supply from 8% in Q1 2020 to 17% in Q1 this year.

The changes in supply were heavily influenced by the monthly volumes imported in March, says the TTF.

OSB imports were up by a massive 74.1% in the first quarter, compared to Q1 2020, with cumulative volume at 141,000m3 (2020: 81,000m3). On the other hand, exports from the UK were down 29.2%.

Meanwhile, MDF imports were up 9.3% in the comparison periods, with cumulative volume at 202,000m3 (2020: 184,000m3). Exports were also up, by 11.8%.