A new online trading platform called Tradeforusforestry.com is set to bring a new dynamic to forestry trading in Ireland.
The marketplace aims to bring buyers and sellers of timber, forestry land and harvesting rights together at regular online auctions.
A joint venture between 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.
“Online trading is an increasing across all aspects of the agri sector, delivering savings in time and money and simplifying buying and selling”
Half of Ireland’s 1.85m acres of forestry is privately owned with limited trading options in the market for these estimated 23,000 owners.
Planting the seeds
By using Tradeforusforestry.com, forestry buyers and sellers avoid the excessive costs, confusion, and delays that come with traditional forestry trading, particularly in timber sales
Tradeforusforestry.com will host its first auction on 10 March from 9:15am. All those wishing to participate and view the online auction must complete a simple registration in advance, enabling them to view further details on the various lots for sale and fully participate in the auction.
The deadline for registrations is 7 March at 3pm. All auctions will be independently audited and overseen by leading financial advisory experts, ifac.
A range of lots including timber sales and freehold land from a range of counties have been listed on the website by prospective sellers in recent days with further lots expected to be listed daily in advance of the auction.
The launch comes at a critical juncture in the forestry sector, where crippling delays in the forestry licensing process, a lack of transparency on pricing, and timber supply limitations are driving up costs all impacting the market.
“Online trading is an increasing across all aspects of the agri sector, delivering savings in time and money and simplifying buying and selling,” said the CEO of Tradeforusforestry.com Michael Broderick. “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. The volume of timber from such private forest owners is set to almost double to 2.5m tonnes within three years. By 2026, privately owned forestry volumes will surpass the volume overseen by Coillte on behalf of the State. Volumes are expected to exceed 4m tonnes by 2031.
“Those in the forestry sector have consistently faced challenges to buying and selling timber, often resulting in harvest losses and rot. Without suitable resources, identifying forestry lots can be complex. Now, we are removing these complexities, bringing buyers and sellers together in a streamlined way.”