New online forestry trading platform announces details of first auction

Half of Ireland’s 1.85 million acres of forestry is privately owned, with limited trading options in the market for these estimated 23,000 owners.

A new online trading platform has been launched this week for buyers and sellers of Ireland’s 930,000 acres of privately-owned forestry.

Launched as part of a joint venture between agri-tech provider Tradeforus and timber harvesting company Euroforest Ireland, the end-to-end solution aims to pair buyers and sellers of timber, forestry land and harvesting rights up directly.

The first online auction is set for March 10, with lots now open for registration. Those wishing to participate in the online auction must register 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 March 7 at 3pm.

All auctions will be independently audited and overseen by financial advisory firm 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 platform expects to expand its capabilities further in the immediate term and has signalled it will announce further developments in the coming weeks.

Half of Ireland’s 1.85 million acres of forestry is privately owned, with limited trading options in the market for these estimated 23,000 owners.

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.

The new platform aims to avoid the excessive costs, confusion, and delays that come with traditional forestry trading, particularly in timber sales.

Commenting on the launch, Michael Broderick, chief executive of Tradeforus Forestry, said: “We are really pleased to bring this innovative new trading platform to the market. 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.

“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 2.5 million 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 four million tonnes by 2031.

“Those in the forestry sector have consistently faced challenges to buying and selling timber, often resulting in harvest losses. Without suitable resources, identifying forestry lots can be complex.

"Now, we are removing these complexities, bringing buyers and sellers together in a streamlined way. Our first auction is set for March 10. It is encouraging to see a range of sellers list their timber and forestry land for sale in advance of our formal launch.

“Potential buyers are also visiting the site and engaging with our team to learn more. This reflects the level of interest in the sector and an appetite to embrace new ways to trade.”

Mr Broderick said Irish forestry was 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. tradeforusforestry.com is one such solution. It brings transparency and real-time efficiencies, making the whole business of buying and selling forestry simpler,” he said.

“So far, the response from forestry buyers and sellers has been overwhelmingly positive. We look forward to deepening engagement with the forestry community in the period ahead.”