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Wood pellet demand rises along with prices in Europe
17/04/2009
The demand for wood pellets in Europe grew, pushing prices up in the final quarter of 2008, according to a new report from US-based Wood Resource Quarterly.
Europe is the largest consumer and producer of wood pellets in the world, with consumption exceeding eight million tonnes last year, according to the report. The major consumers on the continent are Italy, Sweden, Belgium, the Netherlands and Denmark; with Sweden alone producing 1.7 million tones in 2008.
There are more than 450 plants in Europe producing wood pellets and many more are planned for the coming five years as demand is expected to grow following the recession.
Investment in large energy plants in Europe has resulted in increased demand for wood pellets over the last few months. In response Sweden recorded record highs in its prices, with prices in Germany and Austria rising in response later in 2008.
Wood Resource Quarterly says the wood pellet prices are likely to increase further in the coming year, although prices for pellets to be used in large heating facilities are likely to equal out across the globe. Prices of competing energy sources will also impact the prices of wood pellets.
Europe is the largest consumer and producer of wood pellets in the world, with consumption exceeding eight million tonnes last year, according to the report. The major consumers on the continent are Italy, Sweden, Belgium, the Netherlands and Denmark; with Sweden alone producing 1.7 million tones in 2008.
There are more than 450 plants in Europe producing wood pellets and many more are planned for the coming five years as demand is expected to grow following the recession.
Investment in large energy plants in Europe has resulted in increased demand for wood pellets over the last few months. In response Sweden recorded record highs in its prices, with prices in Germany and Austria rising in response later in 2008.
Wood Resource Quarterly says the wood pellet prices are likely to increase further in the coming year, although prices for pellets to be used in large heating facilities are likely to equal out across the globe. Prices of competing energy sources will also impact the prices of wood pellets.
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