New Zealand log prices hit by ‘perfect storm’

New Zealand log prices hit by ‘perfect storm’
New Zealand log prices were at near record levels earlier in 2021, but last month sunk to lows not seen since late 2015. As a result the amount of logs heading to ports had slowed significantly, with many harvesting crews being told to work at a reduced capacity, or down tools.    China is New Zealand's largest overseas market for logs, accounting for about 70-90 percent of exports.    The Forest Owners Association president Phil Taylor said a "perfect storm" had caused the sudden drop in prices. This included reduced processing capacity ...

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