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Wood Matters

Log Market - August

Prices for export logs delivered to NZ ports in August dropped an average of $4/m3 from July prices. As per the last couple of months this drop has been driven by the strengthening of the NZD against the USD. Exporters competing for supply at some ports and a slight increase in sale prices in China has buffered the downward movement in prices.

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Clarky's Comment - Our NZ Inc. Strategic Advantage

For the NZ environment to support a significant move from commodity to high-end, high-price niche branding and marketing we really do need to get serious about expansion of tourism support infrastructure, funding of the predator-free initiative, and cleaning up our rivers and lakes.

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Log Market - July

Export prices for logs delivered to NZ ports in July dropped an average of $2/m³ from June prices for unpruned logs and $5 for pruned logs. This drop has been driven by the strengthening of the NZ$ against the US$. Over the last two months the NZ$ has appreciated 7% against the US$. A slight reduction in ocean freight rates, some modest gains in market prices, and competitive tension within the export supply chain has buffered any downward movement in prices that forest owners receive for logs at NZ ports. Some exporters are obviously passing-on currency they have hedged, while others are grinning and bearing the current financial pain. Demand is down in the Indian log market as log buyers deal with the new GST regime. This is not concerning exporters as log stocks in India are currently relatively low.

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