A new online platform for buyers and sellers of Ireland’s 930,000ac of privately owned forests is set to hold its first auction in March. This new site will bring together buyers and sellers of timber, forestry land and harvesting rights at regular online auctions.
Half of Ireland’s 1.85 million acres of forestry is privately owned by an estimated 23,000 owners.
This joint venture between agritech provider, tradeforus.com and timber-harvesting company, Euroforest Ireland, will facilitate sellers to post lots and buyers to bid online on auction days.
All auctions will be independently audited and overseen by financial advisory experts at the Irish Farm Accounts Co-operative Society (Ifac).
A range of lots including timber sales and freehold land have already been listed by prospective sellers with further lots expected to be listed daily in advance of the first auction, which takes place on March 10.
A spokesperson for the joint venture said its 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”.
Chief executive of tradeforusforestry.com, Michael Broderick said online trading is increasing across all aspects of the agri-sector, delivering savings in time and money and simplifying buying and selling.
“Now, we want to bring similar advantages to buyers and sellers of timber, forestry land and harvesting rights,” he said.
It is a timely move, considering that the volume of timber from private forest owners is set to almost double to 2.5 million tonnes within three years, he said.
“By 2026, privately owned forestry volumes will surpass the volume overseen by Coillte on behalf of the state and volumes are expected to exceed four million tonnes by 2031,” he added.
He explained that buying-and-selling challenges faced within the forestry sector often result in harvest losses, and without suitable resources, identifying forestry lots can be complex.
“Now, we are removing these complexities, bringing buyers and sellers together in a streamlined way.
“Irish forestry is entering a new, exciting phase. There is a growing realisation of the economic and environmental importance of forestry. Ireland is playing catch-up on countries like Scotland, Denmark and Belgium.
“If we want to see all aspects of the sector flourish, we must bring forward a range of new solutions,” Broderick said.
Tradeforusforestry.com will host its first auction on March 10, from 9:15a.m. Deadline for registrations is March 7, at 3:00p.m.