Revenue from timber sales climbed to UAH 30.4 billion ($736 million), up UAH 6.7 billion year-on-year, while tax payments hit a record UAH 16.1 billion ($390 million) — up UAH 6.8 billion on 2024. Industry profitability reached 22.8 per cent, up 12.3 percentage points, with average monthly wages clearing UAH 30,000 — roughly $727 — after rising UAH 6,000 year-on-year.

Post-2020 reforms have driven the turnaround. Before those changes — when resources were greater and conditions far less punishing — the industry earned just UAH 0.2 billion, nearly 35 times less than today’s result. “This is the best proof that the reforms we implemented have proven effective,” Smal said.

Yuriy Bolokhovets, director general of Forests of Ukraine, said less money was disappearing off the books. Moving 97 per cent of procurement onto the Prozorro transparency platform saved more than UAH 700 million alone.

“Before the reforms, profits were lost. Today, financial flows work in the interests of the state and the industry,” Bolokhovets said.

“Increased profits mean record budget contributions, forest fire protection, support for the armed forces, and investment in technical modernisation.”

It comes amid ongoing uncertainty over Ukraine’s timber export position, with European markets closely watching supply flows as the war continues to constrain accessible forestry areas across the country’s east and north.

Boulton raised the prospect that EU anti-dumping measures on Chinese hardwood plywood had redirected volumes toward the UK — and that some of the increase could mask sanctioned Russian product. “We would urge our members and the wider industry to use all caution and take advantage of TDUK due diligence and responsible sourcing policy resources to make sure the timbers they purchase comply with all relevant EU and UK regulations,” he said.

Hardwood plywood imports rose 7.1 per cent. Total plywood volumes climbed 10.1 per cent to 1.32 million cubic metres — driven by stronger shipments from China, Malaysia and Brazil.

The broader picture was much weaker.

Demand has remained subdued for four consecutive years, and softwood — which accounts for around 61 per cent of all UK timber imports — fell four per cent to 5.55 million cubic metres. Sweden, Germany and the Irish Republic all shipped less. Latvia and Finland picked up some of the slack. Average softwood prices still rose, reaching £289 per cubic metre against £256 in 2024.

Hardwood came in at 431,000 cubic metres. Tropical species were down 9.7 per cent. Mixed hardwoods moved the other way, rising ten per cent to 115,000 cubic metres, with Cameroon holding its position as the dominant source of tropical supply. Particleboard had a strong year, climbing 10.1 per cent to 637,000 cubic metres. MDF did not — volumes dropped 23 per cent to 544,000 cubic metres. Engineered wood was similarly split. Laminated veneer lumber and I-beams both grew solidly, while cross-laminated timber fell 23.6 per cent.

Boulton said the headline figure obscured a more complicated picture: “Much of the reduction in overall volume was driven by lower softwood and MDF imports, while several other product categories recorded strong growth during the year.”

The housing and construction sectors remain the key variable. Forecasters expect softwood volumes to recover around 3.7 per cent in 2026 — but that recovery depends on confidence returning to a market that has been flat for the better part of four years.

Wood Central understands the deal is expected to fetch more than $100 million, with Gresham House, the UK asset manager with close to AU$7 billion in forestry and natural capital assets, making a play for the 22,000-hectare beef, dairy and cropping property 140 kilometres north-east of Launceston.

And its plans go far beyond milk and beef, with large-scale pine plantations, carbon projects, biodiversity credits and income from Australia’s Nature Repair Market all in the mix.

However, not everyone in the state’s north-east is welcoming the change.

“You can’t eat pine trees, that’s a big one,” according to St Helens beef farmer and former Liberal MP John Tucker, who spoke to ABC Rural Tasmania over the weekend. “I think it’s got a lot of potential for livestock farming out in that area. A lot more potential in my opinion than trees.”

Meanwhile, Rhys Beattie, the mayor of the Dorset Council, said that whilst the council is not opposed to forest-based industries, it is calling on both federal and state governments to carefully consider the implications of large-scale agricultural land conversions: “The preservation of productive agricultural land is vital to the sustainability and prosperity of our community.”

At the same time, TasFarmers president Ian Sauer has taken the matter to Canberra, meeting Federal Agriculture Minister Julie Collins to clarify what financial assistance, if any, is being directed toward tree planting in the north-east.

Gresham House’s track record.

Wood Central understands that the firm has managed forestry assets for more than 4 decades and is the world’s 7th-largest forestry investment manager. In December, it closed the first tranche of its Sustainable International Forestry Strategy Platform at €250 million — anchored by Worcestershire Pension Fund and Australian superannuation fund NGS Super — the first time an Australian super fund has partnered with the UK forest giant. The strategy targets allocating 40 per cent to Australia and New Zealand, with the balance split between Europe and other afforestation investments.

NGS Super chief investment officer Ben Squires said sustainable forestry aligns with the fund’s objectives to achieve stable, risk-adjusted returns while contributing to global climate and biodiversity goals.

It comes as Tasmania’s farmland commands the highest median price per hectare in the country, with investor appetite increasingly driven by carbon, biodiversity and renewable energy income alongside productive agricultural land. Rushy Lagoon is already earmarked for the ACEN Australia-managed North East Wind project — 210 turbines across Rushy Lagoon and Waterhouse — which was declared a project of state significance in 2022.

Sale agent Jarrod Ryan of RMS Advisory has declined to confirm details, saying only there is “nothing to report at this stage.” Gresham House was contacted for comment on the Rushy Lagoon bid specifically.

• To learn more about Gresham House’s timber strategy, click here for Wood Central’s special feature.

That is according to HOK, the global architecture and engineering firm leading the design for the three-storey, 57,000-square-foot building and an adjacent 350-bed forensic psychiatric hospital, both under construction on a campus being redeveloped as a centre of excellence for behavioural healthcare.

The administration building combines regionally sourced glulam columns and beams with cross-laminated timber decking — a structural approach rarely attempted in healthcare construction, where steel and concrete have long been the default.

Working alongside structural engineer KPFF Consulting Engineers to develop concealed proprietary connections and fasteners, HOK kept the exposed timber interior free of visible hardware…with several columns made from trees felled on-site.

Wood Central understands that the building is targeting LEED Gold certification and net-zero-energy readiness. Rooftop and site-mounted photovoltaic panels will generate on-site renewable energy, while advanced mechanical, electrical, and plumbing systems — including thermal storage — are designed to reduce peak energy loads. Fritted-glass curtainwalls bring daylight into the building’s core and offer occupants views across the surrounding campus.

The ground floor includes training and gathering spaces open to the wider community — a conscious step away from the closed, institutional character that has defined state psychiatric facilities for generations. It comes as the broader $947 million Western State redevelopment — the largest capital project in Washington state history — pushes toward a 2028 opening. The forensic hospital is scheduled to begin receiving patients later that year.

Three product categories are under examination. Canadian softwood lumber faces review under antidumping order A-122-857 and countervailing duty order C-122-858 for all of calendar year 2025. Chinese certain hardwood plywood products — under antidumping order A-570-051 — and Chinese wooden bedroom furniture under order A-570-890 are included for the same period.

Commerce said it may limit the number of companies examined, selecting respondents through U.S. import data or quantity-and-value questionnaires. The data will be placed on the record within 5 days of the initiation notice, with respondent selection to follow within 35 days. For wooden bedroom furniture, quantity-and-value responses are due within 21 days; separate-rate certifications within 14 days.

The duty burden on Canadian exporters has risen sharply. Combined antidumping and countervailing rates climbed from 14.40 per cent under the fifth administrative review to 35.19 per cent under the sixth, and U.S. producers show no sign of backing off. Andrew Miller, chairman of the U.S. Lumber Coalition, said the duties target practices “designed by Canada to maintain an artificially inflated US market share for Canadian products and force US companies to curtail production, thereby killing US jobs.”

The Chinese furniture picture was equally difficult in 2025. The U.S. remains China’s largest wood furniture export market, absorbing 27 per cent of total shipments — but volumes fell 7.1 per cent to 129.4 million pieces, export value dropped 20 per cent to US$5.6 billion, and average unit prices declined 14 per cent to $43 per piece.

That is according to AFWI Executive Director Dr Joseph Lawrence, who heads the $200 million R&D body — backed by $100 million in federal funding — and said the next round of grants, up to $2.5 million per project, was designed to drive systemic change, not incremental improvement.

It comes as the federal government has committed $54 million to develop modern methods of construction in Australia — part of a broader policy package that has seen prefab and modular housing formally recognised under the National Housing Accord.

And the new call targets the full forest and wood products value chain, with a particular emphasis on modernising industrial timber construction across housing delivery.

Wood Central understands projects must align with at least one of AFWI’s four strategic pillars — Healthier Forests, Maximising Fibre, Climate Solutions, and Housing Innovation — and demonstrate strong co-design with industry partners.

Indicative grants range from $50,000 to $2.5 million. Matching co-contributions of at least 50 per cent of the total project cost are required, with projects able to run for up to four years.

The round follows a two-stage process: an initial expression of interest, followed by an invitation to submit full proposals. AFWI is encouraging researchers and industry proponents to make contact ahead of the opening.

Eligible applicants include universities, CSIRO, industry associations, Indigenous organisations, not-for-profits, state and local governments, and private companies. Projects must be primarily based in Australia and hold a valid ABN. First Nations-led projects, or those incorporating Indigenous perspectives, are specifically welcomed.

• To learn more about the latest AFWI Open Call for Research, click here for more information.

It comes as female membership has climbed 10% over the last five years, a figure Martin says reflects a profession actively working to become more inclusive, more attractive, and more reflective of the communities it serves.

But Martin was quick to acknowledge the work ahead.

“Whilst we celebrate these achievements, we also acknowledge there is still more work to be done to create an environment where all individuals have the opportunity to thrive, and that includes women, people from non-English speaking backgrounds and First Nations People.”

Balancing the Scales

The milestone aligns with this year’s International Women’s Day theme — Balance the Scales — which calls for concrete action to dismantle the structural barriers holding women back from equal opportunity, representation and leadership across every profession.

For Forestry Australia, Martin says that means deliberate investment in mentoring, leadership pathways, and cultures that genuinely welcome diverse perspectives. “For forestry, that means continuing to invest in mentoring, leadership pathways and building organisations where individuals at every career stage feel genuinely welcome. And that means taking deliberate action, empowering supporting allies and creating cultures where diversity and broader perspectives can thrive.”

Martin will chair a panel discussion at the University of the Sunshine Coast Forest Research Institute on Monday, joined by Dr Lyndall Bull, Charlotte Raven, Dr Leanda Garvie and Kelly Stewart.

UniSC Forest Research Institute Director Professor Mark Brown said the occasion was an ideal opportunity to recognise the full contribution women are making to forest science. “International Women’s Day is an opportunity to recognise and celebrate the remarkable contributions women are making across every part of forestry research and practice. When we bring diverse voices, experiences and perspectives to the table, we strengthen not only our research institutions but also the forests and communities we serve,” Professor Brown said.

About International Women’s Day

Observed on March 8, International Women’s Day is a global occasion recognising the social, economic, cultural and political achievements of women. First celebrated in the early 1900s, it has grown into a worldwide movement calling for gender equality and the acceleration of women’s rights.

Each year, a campaign theme guides the global conversation — in 2026, Balance the Scales urges individuals, organisations and governments to take meaningful, structural action to close persistent gender gaps across every industry and sector.

The market price for diesel has increased from $130 in February to almost $220 per barrel in March, with retail diesel prices rising by almost 19 cents per litre since last Sunday.

Munro said trucking businesses operated on very tight margins and would have to pass fuel price increases onto their customers.

“Fuel is typically one of the top three costs for a trucking business,” he said. “Any increase in fuel prices has a big impact.

“Some trucking businesses have fuel levies that automatically adjust their invoices as the price of fuel changes. Others depend on periodic rate reviews — or don’t have rate review provisions in their contracts at all.”

Munro said trucking businesses needed to review their costs and, if necessary, have open conversations with their customers about bringing forward the next fuel levy adjustment or rate review.

Operators also needed to plan for delays in filling fuel orders due to increased demand.

“Trucking businesses cannot be expected to absorb the cost of increased fuel prices,” Munro said. “Our industry is already under extreme pressure, with one in every 12 businesses closing in the 12 months to November 2025.”

The ATA and its members have campaigned since 2014 to strengthen Australia’s fuel security. As a member of the International Energy Agency (IEA), Australia is required to hold oil stocks equivalent to 90 days of net imports.

The ATA pushed back against the previous government’s plan to store Australia’s fuel reserves in the United States — “on the other side of a very wide ocean,” Munro pointed out.

“We also worked with the industry department on the 2021 legislation that established the current national fuel reserve. Under its minimum stockholding obligation (MSO) rules, fuel importers and refiners are required to hold baseline levels of fuel.

“About three billion litres of diesel are held under the MSO — enough to last 33 days. The fuel is in Australia or on ships nearby. Our total oil stocks are equivalent to 50 days of net imports in IEA terms.

“The federal government has made progress on Australia’s fuel security, but it’s been a problem for many years. Australia needs to have the 90 days of net import cover that we signed up to hold.”

Munro said the rise in diesel prices underscored the importance of the ATA’s submission to the Fair Work Commission (FWC) regarding the contractual chain order it was considering. The FWC has the power to issue orders covering the whole of the road transport contract chain.

“In our submission, we supported a requirement for yearly rate reviews, but with more frequent reviews of the price of fuel — unless a contract already includes a fuel levy mechanism,” he said.

“Those requirements won’t come into force until late 2027 at the absolute earliest. The solution for now is for trucking companies to monitor their costs and talk to their customers.”

The ATA said it would continue engaging with the government and fuel suppliers.

“We must emphasise the critical importance of road freight transport to everyone in Australia,” Munro said.

The 636-hectare holding — to be named Bunya Orchards — includes 341 ha of established, high-density macadamia orchards, 50 ha of grazing land flagged for greenfield development, and retained native vegetation with scope for environmental plantings across the broader footprint.

Day-to-day orchard management will remain with Macadamia Farm Management, Australia’s largest macadamia orchard manager, while New Forests’ related entity, New Agriculture, will oversee the broader asset strategy.

“This aligns with our whole of landscape investment strategy,” said David Shelton, managing director for Australia and New Zealand and global head of investments at New Forests.

The acquisition is the fund’s second agricultural deal in seven months, and Mr Shelton said it was designed to broaden the portfolio’s exposure beyond timber and into land-based assets with different return drivers.

“The asset provides exposure to a high-growth tree nut market while enabling opportunities to integrate natural capital, improve ecological outcomes and build long-term value for our investors,” he said.

Bundaberg is Australia’s top macadamia-producing region, sitting at the southern end of the Great Barrier Reef catchment, with a well-established processing ecosystem and strong global demand for the nut.

New Forests is flagging a range of value-add plays beyond straight production. The native vegetation on the property opens a pathway to Australian Carbon Credit Units, biodiversity credits and other nature-based market programs, while the greenfield grazing land gives the fund room to expand the orchard footprint without a new land purchase.

On the emissions side, the plan includes switching irrigation systems to on-site solar and battery storage, phasing out diesel farm vehicles in favour of electric and hybrid alternatives, and reducing fertiliser inputs through biological solutions where the agronomics stack up.

“The acquisition strengthens ANZLAFF’s agricultural footprint and further diversifies exposure across uncorrelated land-based asset types and geographies,” Mr Shelton said.

The first agricultural deal came in August 2025, when the fund took a 50% stake in McPhee Beef Farms — later renamed Benditi — a high-quality F1 Wagyu beef operation.

Investors in the ANZLAFF fund include Swedish pension fund Andra AP-fonden (AP2), German pension group Bayerische Versorgungskammer (BVK), the federal government’s Clean Energy Finance Corporation, and an Australian and a German insurer.

The Bunya Orchards name is a nod to the bunya pine — a Queensland native that holds deep significance for the Gubbi Gubbi people, who have long symbolised abundance. Seasonal nut harvests were occasions for ceremony and gathering among tribes, bringing communities across the region together. Mr Shelton said the name felt right for an asset planted in that landscape.

That is according to Nguyen Quoc Tri, Deputy Minister of Agriculture and Environment, who said Hanoi is focused on “diversifying export markets,” reducing dependence on major trading partners, building the ‘Vietnamese Wood’ brand, and expanding forest environmental services and the carbon market.

It comes as Vietnam’s wood exports hit a record $18.5 billion in 2025, up 6.6 per cent year-on-year, with the US taking more than $8 billion of that total. The pressure is mounting: as Wood Central reported this week, the US Department of Commerce has slapped a preliminary 196 per cent antidumping duty on Vietnamese hardwood plywood — a rate higher than the one applied to China.

Nguyen Quoc Khanh, newly elected chairman of VIFOREST, says the reckoning is overdue. “The US is applying inconsistent tariff policies, whilst the EU market continues to struggle with economic slowdown,” he warned — stressing that unless the sector invests in green production and modern technology, the government’s US$25 billion export target by 2030 is in peril.

Japan is Vietnam’s fastest-growing major market.

Exports there surged 23 per cent in 2025 to $2.153 billion — making it Vietnam’s second-largest destination for the first time — with China close behind at $2.086 billion. The US, Japan and China together now account for 80 per cent of Vietnam’s total wood export value, with Canada quietly emerging as one of its most important new markets, particularly for bedroom furniture.

According to Phung Quoc Man, HAWA chairman, Canada, Europe, the Middle East and India have yet to impose tariffs on Vietnamese wood, a window Hanoi is now moving fast to exploit. Europe is already responding: exports to Spain jumped 63 per cent year-on-year as buyers scrambled to replace Chinese and Russian suppliers, with Germany also gaining ground under the EU-Vietnam Free Trade Agreement.

Underpinning the entire push is a green transition that Vietnam is further ahead on than most observers realise. The country has already sold 10.3 million forest carbon credits to the World Bank, banking $51.5 million, with a domestic carbon trading exchange now live under Decree 29/2026.

So far more than 520,000 hectares of planted forest carry FSC certification — with the government targeting one million hectares by 2030, the compliance threshold European buyers now require under the EU Deforestation Regulation before they will sign a purchase order.