Log prices down 8.9% on lower Chinese demand

Logs for export queued up at Northport. (Image: BusinessDesk)

Fri, 26 May 2023

At wharf gate prices for export A-grade logs declined an average of $22 per Japanese agricultural standard (JAS) cubic metre in May, their lowest prices in 10 months.Forestry consultancy group PF Olsen said while softwood inventory had remained steady in China, construction activity was likely to remain subdued as the country entered its hotter summer months, which generally saw work tail off by about 15%.Customs data showed that from January to November last year, NZ shipped 14.8 million cubic metres of radiata pine logs to China, at an export...

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