The euro becomes legal tender on January 1: Finland has signed up but the UK, Sweden and the Baltics are outside. TTJ asked traders for their views
Ian Robinson, managing director of softwood agent Gill & Robinson, said the majority of his business was with non-euro countries. ‘It will be another currency to watch. All the main supplying countries are not in it. I am not being quoted euros by anyone at the moment.’
Mark Plews, managing director of agent/broker UCM Timber plc, said: ‘We’ve been quoting in euros for a long time. We supply to the Republic of Ireland and a lot of our business there is in euros. Here, buyers still prefer to deal with sterling if they can. I do not see any issues at all.’
Paul Micklefield, managing director of AssiDomän Forest and Timber Ltd, said: ‘We have not had any customers asking to do business in euros. When the parity between the euro, Swedish krona and sterling is settled, it will eventually have an effect. It’s not a big issue at the moment but next year there will be more focus on it.’
Tony Lord, managing director of agent/broker Lord Forest Products, said: ‘As far as our UK business is concerned it will make no difference as 99% of our suppliers are outside the EU. Where they’re concerned the dollar is still king.’
John Tong, managing director of Finnforest (UK) Ltd, said: ‘In the short-term it’s not going to make much difference to us. We deal in sterling with Finland and Sweden and in dollars for the Far East and America.’
Mark O’Brien, Timber Trade Federation’s head of public affairs, said the TTF had decided against making any special euro policy as the industry had not expressed any strong feelings on the currency.
