Woodwork Ireland

Sustainable Irish Timber

Rising oil prices are soon going to have an effect on timber prices - indeed, with a lot of retailers and stockists, they already have. The main problem, obviously, is transport - the further away the timber comes from, the more petrol or diesel is involved in moving it. Timber coming from Scandinavia has a smaller proportion of oil in its costs than timber coming from South America. On that basis, it makes a lot of sense to move away from exotic woods like teak and mahogany toward timber that comes from places that are nearer.

However, it’s worth noting that the shortest travel distances for timber in Ireland are, of course, for Irish timber. As oil prices rise, then, we can expect to see a parallel rise in demand for Irish oak, ash, chestnut, and other woods. Irish elm, unfortunately, is nearly gone already. With an eye to this rising demand, it’s likely that timber would be a good investment. Land prices are still high on the east coast, but land suitable for timber can be got in counties like Monaghan and Offaly for relatively small money. Well-managed woodland on sites in these areas could have very high returns.

This is a concept that is already being developed in the US, so that companies like Greenwood Management invite investment in timber growth. They offer returns at the moment between 10% and 16% per annum - which is a more than reasonable return. There doesn’t seem to be any company in Ireland offering this kind of service at the moment, although there are forestry companies like Forestry Services. It’s a niche I expect someone to fill in the near future, and it’s a good one for woodworkers to consider investing in.