Overview
This In Brief summarises a report on future timber prices and price elasticities of demand for emerging species and different product categories. The report reviewed existing studies, focusing on those most relevant to UK timber markets. The emerging species considered are those tree species predicted to have a more prominent role in UK forestry in the future.
This overview of the report covers key findings relating to the pricing of emerging species, provides estimates of own-price and income elasticities of demand for different wood products in the UK, and discusses the different timber price forecasting models.