FOEX Indexes and Wood Resources International to partner in the launching of Global Wood Chip Price Indices
More than 80 million tons of wood chips, valued at almost ten billion US dollars, are traded annually in the open market worldwide and the shipment volumes are increasing.
FOEX and WRI have agreed to partner in the launching of global wood chip price indices. As for all price benchmarks in FOEX's PIX-index family, the indices will be based on a large number of actual trades and the data will be collected from both sellers and buyers of wood chips. The combined efforts of FOEX and WRI, and the PIX-index system, will ensure that the indices, whose launch is planned for early 2011, will be statistically reliable and thus well suited for numerous market participants. These include forest and energy companies who can use price indices for benchmarking, as well as the financial community, which can use the Indices as price risk management tools.
To learn more about this new, unique benchmark service, may contact either the FOEX representative in bio-indices, Mr. Matti Sihvonen (This email address is being protected from spambots. You need JavaScript enabled to view it.), Timo Teräs, the Managing Director (This email address is being protected from spambots. You need JavaScript enabled to view it.), or Mr. Håkan Ekström, the President of WRI (This email address is being protected from spambots. You need JavaScript enabled to view it.).
The full press release can be found in the attached PDF file.....