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 ¡ª wood chips, logs and veneer sheets ¡ª 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.
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