By all accounts, 2022 was an extraordinary year due to the havoc Russia's invasion of Ukraine wreaked upon the global economy - with the pellet industry certainly not being immune to this. According to Bioenergy Europe, the sector had experienced substantive rates of growth in 2021, yet even in the second half of that year, Russia's hostility led to increased energy prices -which affected pellets too. The invasion led to the doubling - or even tripling - of pellet prices in both industrial spot markets and residential markets, after years of experiencing stable levels.
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