NZ export log prices record first drop in eight months as Chinese inventories build

NZ export log prices record first drop in eight months as Chinese inventories build
By Tina Morrison March 23 (BusinessDesk) - New Zealand export log prices dropped for the first time in eight months as shipments to China, the nation's largest market, exceed demand, resulting in a build up of inventory on Chinese ports. The average wharf gate price for New Zealand A-grade logs fell to $106 a tonne, from $110 a tonne in February, marking the first decline since July 2014, according to AgriHQ's monthly survey of exporters, forest owners and sawmillers. The AgriHQ Log Price Indicator, which measures average log prices weigh...