Tradeforusforestry.com, a new online trading platform, claims that it will bring a new, dynamic to forestry trading.
It aims to bring buyers and sellers of timber, forestry land and harvesting rights together at regular online auctions.
The joint venture is the brainchild of agritech provider, tradeforus.com and leading timber harvesting company, Euroforest Ireland.
The new online trading platform will facilitate sellers to post lots and buyers to bid online on auction days.
Forestry trading platform
Tradeforusforestry.com will host its first auction on March 10th, 2022, from 9:15 am.
All those wishing to participate and view the online auction must complete a simple registration in advance.
This will enable them to view further details on the various lots for sale and fully participate in the auction. The deadline for registrations is March 7th, 2022, at 3 pm. All auctions will be independently audited and overseen by leading financial advisory experts, ifac.
Prospective sellers have listed a range of lots, including timber sales and freehold land from a range of counties, on the website in recent days.
The platform expects to expand its capabilities further in the immediate term. Furthermore, it has signalled it would announce further developments in the coming weeks.
Half of Ireland’s 1.85 million acres of forestry is privately owned. According to Tradeforus, there are limited trading options in the market for these estimated 23,000 owners.
Benefits and issues
According to the partners, by using tradeforusforestry.com, forestry buyers and sellers can avoid the “excessive” costs, confusion, and delays of traditional forestry trading, particularly in timber sales.
The launch comes at a time of the following which are all impacting the market:
- “Crippling” delays in the forestry licensing process;
- A lack of transparency on pricing;
- Timber supply limitations.
Commenting on the launch, Michael Broderick, chief executive, tradeforusforestry.com said:
“We are pleased to bring this innovative new trading platform to the market. Online trading is increasing across all aspects of the agricultural sector, delivering savings in time and money and simplifying buying and selling.”
“Now, we want to bring similar advantages to buyers and sellers of timber, forestry land and harvesting rights.”
“Forestry is a sector we identified as lacking in trading options for buyers and sellers alike. Over half of the country’s forestry stock is privately owned.”
Forestry in Ireland
He said the volume of timber from such private forest owners is set to almost double to 2.5 million tonnes within three years.
Furthermore, he added that by 2026, privately owned forestry volumes would surpass the volume overseen by Coillte on behalf of the State.
“Volumes are expected to exceed four million tonnes by 2031,” he remarked.
“Those in the forestry sector have consistently faced challenges to buying and selling timber, often resulting in harvest losses.”
“Without suitable resources, identifying forestry lots can be complex. Now, we are removing these complexities, bringing buyers and sellers together in a streamlined way.
He believes that Irish forestry is entering a “new, exciting” phase. He said there is a “growing” realisation of the economic and environmental importance of forestry.
Broderick stated that Ireland is “playing catch-up” on countries like Scotland, Denmark, and Belgium.
Concluding, he said: “If we want to see all aspects of the sector flourish, we must bring forward a range of new solutions. tradeforusforestry.com is one such solution.”
“It brings transparency and real-time efficiencies, making the whole business of buying and selling forestry simpler.
“So far, the response from forestry buyers and sellers has been overwhelmingly positive. We look forward to deepening engagement with the forestry community in the period ahead,” he concluded.