Wood set to become a traded commoditySubscribe to RSS feed
Wood is set to join oil, gas and metals as a crucial global commodity product as emerging sectors push demand to an all time high, a leading forestry consultant warned at an industry seminar on Friday, 6 May 2011.
A group of forest industry investors, including the chief executives of Stora Enso and Drax Power, met in London to discuss ways to sustainably address rising demand for wood, as this demand is expected to outstrip supply in EU27 by 30 per cent in 2020.
Many in the energy sector believe wood, as biomass, will help replace fossil fuels in the production of electricity, heat and fuels. And, according to Pöyry Management Consulting, this new demand for wood for energy generation is set to radically transform the forestry industry. (more)