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February 15, 2019

New Zealand wood on a high demand as China shuns US exports; export prices near records

New Zealand wood on a high demand as China shuns US exports; export prices near records

Forestry prices in New Zealand — one of the world’s largest timber exporters — are near record highs, thanks largely to strong Chinese demand for pine logs. A-grade logs for export were recently selling for $NZ140 ($134) a tonne, up around 14 per cent from September, according to market data provider AgriHQ.

In contrast, US futures contracts for lumber — or planks of timber — fell sharply in the second half of last year.

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