Over the past year, lumber prices in Estonia have experienced a significant decrease, with prices now approximately half of what they were this time last year. Toomas Tauk, the managing director of lumber retailer Puumarket, attributes this decline to a decrease in local construction activities, particularly in Scandinavia.
Tauk noted that the price of wood has moved in the opposite direction of overall inflation, and this trend has continued throughout the summer. He explained that the last six months witnessed a clear oversupply of wood in the market. However, in recent times, production volumes have been reduced, suggesting that prices may have either reached their lowest point or are close to it.