NZ export prices may have reached lows after supply eases, Agrifax says

NZ export prices may have reached lows after supply eases, Agrifax says
By Tina Morrison June 27 (BusinessDesk) - New Zealand export log prices to China, which have dropped by about a third to $87 a tonne in the past three months, may start to stabilise next month as supply eases, slowing an inventory build up on the ports of Asia's largest economy, according to Agrifax. Log inventories on Chinese ports have more than doubled since the start of the year to about 4 million tonnes, which equates to about two-and-a-half months' usage, as an expansion in China's housing market led to a surge in supply from export...