BREAKING: NZ log exports crossed the 2.0 million m3 threshold in June
New Zealand’s softwood log exports in June totalled 2.022 million m3, crossing the 2.0 million m3 threshold for only the third month on record. Although well short of the record 2.141 million m3 recorded in March 2019, the big lift in exports reverses a downwards trend, especially for shipments to China. The average export price declined to NZDFob158/m3, around USDFob102/m3.
At 18.800 million m3 for 2019-20, New Zealand’s softwood log exports were 15.0% lower than in 2018-19.
The chart, created in IndustryEdge’s Wood Market Edge online, from data released just a short time ago, clearly shows the recent rebound in exports and confirms that for China in particular, a relatively long period of declining imports from New Zealand, has ended. At least for now.
New Zealand Log Exports by Main Country*: Jan ’18 – Jun ’20 (‘000 m3 & USDFob/m3)
Source: Statistics NZ & IndustryEdge * Minor countries removed
After the pandemic induced export suppression of April, exports rebounded in May and lifted again in June. In the strange world of pandemic economics, where both supply and demand are disrupted, but on varied patterns, it is evident that supply of softwood logs was impacted primarily by supply side factors.
Australian log export data for the year-ended June 2020 – and a massive range of other data – will be available on Wood Market Edge online by 9th August 2020.
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