Price volatility on the timber market
2005
Sulek, R.
The paper deals with the analysis of price volatility on the Slovak, Finnish and German timber market during the period of years 1995-2003. Based on the available relevant input data (average prices of chosen timber assortments supplies to the domestic market and export in the Slovak state forestry sector, average prices of chosen timber assortments supplies at the roadside in Finland and price indices of chosen timber assortments supplies in the German public forestry sector), the average values, standard deviations and coefficients of variation are calculated. Based on these results, the timber price volatility of individual markets, timber assortments and tree species is calculated. The timber price volatility on the Slovak timber market is rather high (virtually for all cases, the volatility is higher than the timber price volatility on the both Finnish and German timber markets) - the highest timber price volatility was identified in the case of non-coniferous veneer logs and fuelwood. Rather high price volatility on the Slovak timber market can be caused by the existence of information asymmetry - thus, the necessity of obtaining and analysing timber price information is obvious.
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