A torch is made of 10 branches. One torch values 0.48 (while an arrow is 4) and can be made with bare hands, thus can be a way for a character with nothing to make living of.
You need fire to light it. When lit, it provides up to a 6 tile radius of visibility in complete darkness which lasts for around one to three hours. It weighs one pound.
Torches are made through the [M]ake->[U]tility Items menu.Crafting torches can hardly (or not at all) be used to train Carpentry,
(Test from a player: There was no skill gain after making 256 of them at skill level 25 with a "**" aptitude. )