Russia raises export tax on timber

Russia has increased the export tax on timber to 25% – or not less then $US 24 per cubic metre.

The current rate for softwood timber is 20%, with a minimum price of $US 10 per cubic meter.

Russia sells 50 million cubic meters of timber to overseas customers each year, from a total 187 million cubic metres produced annually.

China and Finland are the main importers of Russian timber.