The European Sawlog Price Index (ESPI), which represents nine major softwood sawlog markets in Europe, did not change much quarter-over-quarter and was €82.33/m3 in the 1Q/16. However, before this last quarter, the ESPI had been in steady decline for two years and in the first quarter of this year was nine percent below the 1Q/14 level. The biggest price declines since 2014, in Euro terms, have occurred in Austria, Germany and the Czech Republic.