IKEA has replaced Russian wood with European wood

The Swedish company IKEA, forced to abandon Russian wood due to sanctions, has found a replacement in Sweden, Germany, Poland and the Baltic countries. About it Reuters said Ulf Johansson, Global Timber Supply and Forestry Manager at Inter IKEA.

Prior to the start of the military conflict in Ukraine, Russia and Belarus occupied the fifth and sixth places respectively in terms of supplies for IKEA (6% and 5% of the total number of purchases). Johansson said that IKEA is now reviewing its long-term timber procurement strategy with a focus on alternatives to Russian suppliers.

“Now it also looks like the commodity market is down a bit, so maybe things are a bit easier now,” a company spokesman said. IKEA’s refocusing on raw materials from other countries is helped by falling wood prices after a sharp increase in the past few years due to increased demand during the COVID-19 pandemic, Reuters reports.

IKEA announced its withdrawal from Russia and Belarus after the outbreak of hostilities in Ukraine. In the middle of August, 2022 IKEA announced intention to sell all four Russian enterprises in the Leningrad, Kirov and Novgorod regions. AFK Sistema, Kronospan, the Hoff network and the PIK group showed interest in IKEA assets.

Anastasia Larina