At one of the auctions on the Ukrainian Energy Exchange, the cost of firewood immediately soared by 602%.
Firewood prices in Ukraine rose sharply in the second half of 2021. Their average cost at exchange auctions jumped by 35%, according to the Ukrainian Energy Exchange on Wednesday, January 19.
It is noted that in just a year, 3.14 million cubic meters of wood were sold at the Ukrainian Energy Exchange for a total of UAH 7.91 billion. In total, 92% of the total volume of products was sold in this way.
At the same time, the exchange recorded a “historically maximum” increase in value. At one of the auctions, the price soared by 602%. As a result, forestry enterprises received almost UAH 2 billion of additional income in the second half of the year.
Recall that the Cabinet of Ministers approved the state forest management strategy until 2035. This is expected to help increase Ukraine’s total forest stock to at least 2.5 billion cubic meters.
Ukraine ranks ninth in Europe in terms of forest area and sixth in terms of timber reserves. The total area of the forest fund of Ukraine is 10.4 million hectares, which is 15.9% of the entire territory of the country.
