FOEX Indexes Ltd (FOEX) and Wood Resources International LLC (WRI) are to partner in the launching of Global Wood Chip Price Indices.

More than 80 million tons of wood chips, valued at almost ten billion US dollars, are traded annually in the open market worldwide and the shipment volumes are increasing.

The vast majority of traded wood chips are currently utilised for pulp production, but the volumes used to generate energy are growing.

The key participants in this trade, including forest companies, energy producers, trading houses and financial institutions, have requested that FOEX consider including wood chip prices in the company’s portfolio of well-established pulp, paper and pellet indices.

WRI, an internationally recognised forest industry consulting firm that specialises in evaluations of global forest resources and wood raw-material prices, including prices of wood chips, already collects and publishes prices of sawlogs, pulpwood and wood chips since 1988.