HFPIHutton Forest Products Inc. (Canada)
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Magee, who joined The Hartford in 2003 and has served as chief underwriting officer for HFPI since the London office opened in 2007, will oversee all underwriting, administrative, finance, legal and regulatory functions of the operation.
Each of the eight HFPI countries has taken responsibility for a different area.
"We are very proud to have been able to play a part in the HFPI," said a Sight Savers spokesman.
The HFPI index has trended downward for over three years when the all-time high of $117.90/odmt was reached.
The Softwood Wood Fiber Price Index (SFPI) was also down in the 2Q/13, but the decline the past two years has been less dramatic than that of HFPI. In the 2Q/13, the SFPI was US$97.75, down 2.2 % from 1Q/13, with the biggest price reductions seen in Norway, Japan, France and Australia.
The Softwood Wood Fiber Price Index has been higher than HFPI for 21 of the past 24 years; it is only the past three years that HFPI has been sold at a premium, and the 3Q/11 premium of US$9.01/odmt is the greatest to date.
As a result of higher fiber prices in most regions worldwide, the Hardwood Wood Fiber Price Index (HFPI) was up $1.51/odmt to $104.88/odmt.
As a result, the Hardwood Wood Fiber Price Index (HFPI) was down 2.3% from the previous quarter to US$103.37/odmt, but it was still nine percent higher than 12 months ago.
Five years ago, Brazil had some of the lowest wood fiber costs in the world in US dollar terms, but since that time the Real has appreciated against the dollar with the result that costs for pulpwood traded in the open market in Brazil now are close to the global average hardwood fiber price index (HFPI).
As a result, the Hardwood Wood Fiber Price Index (HFPI) was slightly lower this quarter to US$105.90/odmt.