Following our previous research papers into the key developing markets of China and Russia, this third publication looks at South America. With the lowest wood costs of any leading producer region, South America looks set to become the dominant producer of pulp globally. Further, as a region with nearly 400 million people with rising standards of living, South America presents a series of interesting growth markets for forest, paper and packaging products. The publication addresses the state of the industry in South America and reflects on key considerations for potential investors. It includes a major focus on Brazil as well as sections on other key South American markets - Argentina, Chile, Colombia & Uruguay.