The global lumber industry has been through a tumultuous period over the past year or so due to wood shortages that have in turn led to skyrocketing lumber prices.
The Russia-Ukraine war has now posed a fresh challenge to the industry, as the world economy will likely have to make do without Russia, a major exporter of wood products, for some time.
In March, Russia halted the export of three wood items — wood chips, logs and veneer sheets — to Japan after it was added to Moscow's list of “unfriendly” countries. The Japanese government responded by imposing additional sanctions, including a ban on imports of those wood products, on April 19.