NEWS

More than 30 wood-related trade associations have signed on to a Hardwood Federation letter advocating for the extension of bonus depreciation: the ability to fully expense the cost of capital expenditures when purchased. Currently, this tax break will begin to phase out in 2023 and will be completely eliminated in 2027.

From January through September, the volume of Russia's industrial lumber declined by 7.5% vs. the same period last year. Plywood production dropped further, by nearly 26%. In September alone, plywood production was down by 40% vs. September 2021.

Resource:

Globalwood.org: Russia's lumber production decreased by 17% and plywood by 40% in September

A consortium has paid $1.8 billion for a block of U.S. hardwood forests, the largest bet yet on forest carbon markets. The consortium is acquiring and managing timberland to maximize how much carbon is stored in the standing trees, rather than sustainably managing the forest for harvest.

Resources:

Decorative Hardwoods Association (formerly HPVA) eNews Volume XV, Issue XXI: USTR Reviews Tariffs On Hardwood Plywood, Wood Flooring From China | DHA Talks Trade, Highlights Benefits Of Decorative Hardwoods | Kitchen Cabinet Sales Continue Strong Growth | U.S. Imports Of Hardwood Plywood Soar

How many tree species are there in the world?

Answer: There are more than 60,000 tree species worldwide.

Source:

NPR: There Are More Than 60,000 Tree Species Worldwide, Scientists Say