Australia’s forestry industry is looking a little greener. The Australian Bureau of Agricultural and Resource Economics has forecast that by 2050, Australia’s consumption of wood products will increase by 50%. Source: ABC Rural
The prediction comes as Australia is forced to build more housing in order to accommodate its rising population.
CEO of the Australian Forest Products Association, Ross Hampton said the industry welcomes the demand but he’s calling for more “wood friendly” policies to be adopted by government.
“Our view is that this could have a very profound effect on growth. It could stabilise the very difficult state of the industry as it stands at the moment. But what we also say is that this is only a light at the end of the tunnel.
“Right now, things haven’t changed dramatically.
“The dollar has declined by a couple of cents, but that isn’t going to shift markets, buyers and suppliers overnight.
“It’s very important that governments really look at the forestry industry and follow some of the leads from overseas, some of the wood first policies for example, that are in operation in some parts of the world. Mr Hampson says there are a number of jurisdictions that are, in some way, providing incentives to build with timber.
“One of the ways that happens is they build into their green star rating, or whatever the equivalent is in their country, an acknowledgement of the fact that timber is a recyclable and renewable resource.
“The industry still has a way to go before it’s out of the woods, if I can use that phrase, but we’re delighted to see the demand is there.”
