As a woodworker or regular buyer of timber/lumber, you must have noticed that lumber prices are constantly increasing. In fact, the price of timber in some regions has nearly doubled in the past couple of years.
One obvious reason for this is the depleting supply of wood (forest strength) in most parts of the world. And then the demand for quality lumber is constantly increasing, which has also helped boost the wood price. Another not so common reason behind the recent lumber price increase is the COVID pandemic, which forced many lumber mills to shut down over the concerns of the infection spreading.
If you are looking to buy cheaper timber amid the pandemic, visit the cameroontimberexport.com website or contact us directly at +237 683 37 5541 to know about the best rates for African timber.
Let’s bust the rumors first
If you’ve heard the rumor that the lumber prices are increasing because producers are purposely shorting the supply, you are not alone. And believe me, there is not much fact in these rumours. In fact, most of the timber producers & suppliers we work with are doing their best to maintain the supply and keep the prices in check.
3 Key Reasons for Increasing Lumber Prices
#1 Limited Supply
As you may very well know, the amount of forestation around the globe is slowly but surely depleting. So, of course, the supply of timber is also reducing with time, which increases the price.
Also, in recent times, especially during the pandemic lockdown, a significant increase in DIY woodworking activities was reported, which gave a boost to the demand while the supply was further reduced because of the lockdown and temporary shutting of mills.
#2 Increasing Demand
As the world is slowly getting back to its feet after the COVID lockdown, there has been a substantial increase in construction activities, which has given a boost to the demand for construction lumber.
As per a trading economics report, new construction in the USA surged by 22.6% between May and June. As the housing market is booming after the pandemic, so is the demand for and price of housing timber.
#3 Speculators Buying with the Hope to Sell Expensive
Another key reason for increasing lumber prices is the role of speculators which is quite significant as well. Expecting the demand, many speculators started buying and storing timber well in advance so that they can sell it later at a high price. This further expanded the gap between lumber supply (availability) and demand.
So, how do I buy cheap timber without compromising on quality?
If you are wondering whether it is possible to buy cheap and good quality timber, we have the best solution for you.
At CameroonTimberExportSarl, we have our own forests in Douala, Cameroon that are approved for harvesting, of course, within the local harvesting rules. So, basically, we have an ample supply of fresh and top quality African timber almost always.
Because of the huge supply, we are able to keep our lumber prices low. If you are looking to buy wood or lumber in bulk, you can expect a further discount on standard rates. Contact us today to share your timber requirements and know the best price for your location.