BURNABY, B.C. — Interfor Corp. says it will reduce lumber production by at least eight per cent of capacity in the first quarter as market uncertainty affects demand.
The Burnaby, B.C.-based forestry company says the move amounts to at least 100 million board feet.
It says it expects to resume its normal production schedule starting in April but will monitor market conditions and adjust plans accordingly.
The company says the production cuts are likely to come from areas other than its U.S. South operations.
The news comes a day after West Fraser Timber Co. Ltd. said it would indefinitely curtail its Perry Sawmill in Florida later in January due to high fibre costs and softening lumber markets.
The lumber market has gone through unprecedented volatility in prices in recent years as the industry went through supply and demand shocks brought on in part by the COVID-19 pandemic.
This report by The Canadian Press was first published Jan. 11, 2023.
Companies in this story: (TSX:IFP)
The Canadian Press
