As three-quarters of the wood processed by the Finnish forest industry originates from privately held forests (FFIF, 1999), the price formation mechanism is of great importance to domestic sellers and buyers alike.
In 1979 three million cubic meters were imported; in 1998 twelve million cubic meters, mainly from Russia (FFIF, 1999).
In 1998, the Finnish forest industry's total electricity consumption was 26 billion KWH (FFIF, 1999), against a total annual industrial consumption of 42 billion KWH, which makes the cost of electricity, and energy in general, an issue of great importance for the forest industry.
According to the FFIF, the strikes in the Spring caused 300,000 metric tons of lost production, corresponding to some [euro]40 million per day.
the quicker the terms of employment can be agreed, the more both employers and employees will benefit." On May 17, the FFIF announced that it may consider extending the lockout an extra two weeks, until mid-June.