Timber and forestry products account for 24% of Riga port’s total turnover
Over the last two months, more than a million tons of timber have been handled in the port of Riga, according to the operational data processed by the port specialists. The said cargo segment this year forms the largest cargo group in the port, providing 24% of the total port’s turnover, the port says in its press release.
The forestry cargo segment includes pellets, wood chips, sawn timber, as well as general timber cargo - logs, boards, wooden panels and other products. In addition to timber storage and transshipment, several companies in the Port of Riga also process timber - from drying and impregnation to the production of semi-finished products for wooden house modules. Such operations increase the added value of timber cargo, as well as enhance the competitiveness of the Port of Riga in the forestry cargo segment.
Steadily growing forestry cargo segment includes wood pellets (+ 7% in 10 months) and wood chips (+ 8% in 10 months). In October, the highest annual volume of forestry cargo handled this year - 570 thousand tons - was reached.
Experts believe, that the increase in the volume of wood pellets and wood chips last month could be related to the approach of the heating season and higher demand for raw materials. The demand for logs in the market has also increased – so the relevant turnover has also increased in the port of Riga. Experts explain the increase in exports of forest products with the approach of Brexit. According to the port data, more than half of all timber loaded on ships was sent to the UK in October.
Forestry cargo is being handled at 14 terminals of the Riga Port. According to the information provided by stevedoring companies, 85% of all timber cargo handled in the port of Riga are Latvian exports, and the top export markets have remained unchanged for several years – the UK, Scandinavia, Finland and the Netherlands. In total, in 2020, forestry cargo was sent from Riga to ports of 18 different countries.
The Port of Riga is the largest timber port in Latvia, handling more than half of the total volume of timber processed in Latvian ports.