Industry Information >>Building Materials>>Finnish paper makers bought more than 12 million cubicmeters of timber from

Finnish paper makers bought more than 12 million cubicmeters of timber from

RUSSIA'S WOOD EXPORT DUTY:

-- The Russian duties have now reached 15 euros per cubic meter andare set to rise to 50 euros from January 1. This would roughlydouble wood costs for Nordic paper mills.

-- Russia is the world's largest exporter of round wood, accountingfor a quarter of world export value. In 2005, Russia exportednearly $2.9 billion worth of roundwood.

* WHO IS AFFECTED?:

-- FINLAND - Finnish paper makers bought more than 12 million cubicmeters of timber last year from Russia and the new tariffs couldcost the industry more than 500 million euros ($735 million)annually.

-- Finland's forest industry employs about 200,000 people. The Bankof Finland has said the higher duties could lead to job cuts andlower national economic output.

-- Finnish media have estimated up to eight major plants couldclose in eastern Finland due to a lack of raw materials, costingabout 16,000 jobs.

-- SWEDEN - Sweden, which also has a large timber industry, sharesFinland's frustration and is critical of Russia's policy. Swedenemploys 90,000 workers in the forestry industry, or 1 percent ofthe population, and is concerned export duty increases by Russiacould cost it jobs at home. Continued...

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