In the first quarter of 2024, New Zealand’s log exports saw a significant rise, increasing by 35% to 5.85 million m3, with the export value growing by 24% to $581 million. The average price per cubic meter, however, decreased by 8% to $99. The export growth was primarily driven by a sharp increase in supply to China, according to Lesprom Analytics.
The breakdown of exports by volume to key markets shows China receiving a substantial 5.48 million m3, marking an increase of 44% from the previous year. South Korea, the second-largest importer, received 268 thousand m3. Other markets like Taiwan and Japan imported 45 thousand m3 and 35 thousand m3 respectively.
Price fluctuations over the quarter included an initial price of $97 per m3 in January, peaking at $102 in February, and then decreasing to $98 in March. The distribution of New Zealand’s softwood log exports by species in the first quarter was dominated by radiata pine, which accounted for 5.65 million m3 of the total volume.
