NZ export log prices slip on higher shipping rates, weak overseas demand

Sun, 20 Mar 2016

By Tina Morrison March 21 (BusinessDesk) - New Zealand export log prices slid this month as shipping rates edged up on higher oil prices and amid weak demand in overseas markets. The average wharf-gate price for New Zealand A-grade logs declined to $119 a tonne in March, from $122 a tonne in February, according to AgriHQ's monthly survey of exporters, forest owners and saw millers. Low oil prices have pushed shipping rates to record lows, underpinning export returns for New Zealand logs. However oil prices edged up about US$8 a barrel...

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