OREANDA-NEWS. On 26 January 2009 was announced, that Forestry Minister Petr Semashko told a news conference, that Belarusian forestry companies subordinate to the Forestry Ministry reported 80 billion Belarusian rubles (Br)’ worth of sales profits in 2008, down 46.6% from the 2007 level,.

Costs increased 24% year-on-year in 2008 to 444.2 billion rubles, while revenues rose only 18.4% to 280.7 billion rubles.

Semashko believes return on sale will remain between 10.5% and 12% this year. “A lot will depend on the situation on the key export markets,” he said.

Semashko noted that profits had been affected by new sale terms and reductions in timber prices on the world market.

“We observed a fall in pine prices to 23.7 euros per cubic meter from 45.9 euros, fir prices to 38 euros from 68 euros, and birch prices to 30.5 euros from 41 euros. Sawn timber prices decreased to 98 euros per cubic meter from 135 euros,” he added.

The forecast for 2009 is 53 billion rubles of sales profits.