New Zealand log export prices stand strong as sales to China soar

Posted on November 24, 2023   |  

The pricing for log exports strengthened this month, demonstrating resilience even in the face of China's construction slowdown post-COVID.

In November, there was a $9 (NZ) increase in log prices compared to October, reaching approximately $110 per square meter under the Japanese Agricultural Standard at South Island ports. North Island exporters experienced a price increase of $5–$10.

Log exporters are experiencing solid sales, showcasing sustained demand despite challenging market conditions.

Interestingly, New Zealand's log exports to China have risen, defying the typical pattern of declining exports to the country.

Looking at the entire year, New Zealand garnered significant revenue from log exports to China, contributing $4.8 billion to the total $46 billion in goods sent to China.