B.C.’s biomass producers face uncertainty after Brexit vote
June 27, 2016 – Biomass producers in British Columbia could face some of the fallout from the United Kingdom’s decision to leave the European Union.
In the days following last week’s referendum, the pound dropped seven per cent against the Canadian dollar, effectively making the province a more expensive supplier of wood pellet biofuels to the U.K.
In 2015, British Columbia exported 70 per cent of its 1.7 million tonnes of wood pellet production to the United Kingdom. Statistics Canada pegs the value of these exports at $159 million – the province’s largest export to the U.K.
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