Opinion: Double take as export log prices hit unexpected high levels

Opinion: Double take as export log prices hit unexpected high levels
12 May, 2021 05:00 PM
4 minutes to read
New Zealand had a record supply month in March, and April-May is looking similar. Photo / NZME
New Zealand had a record supply month in March, and April-May is looking similar. Photo / NZME
Throw the compass way captain, we're now officially in uncharted territory.
While most in the game were expecting flat to slightly increased export prices for May, there was more than a few double takes when prices were released by export companies near $10/JAS cubic metre above April levels. This puts A grade in the $160s/JAS, which is the highest since the extremely short price spike of 1993. This is not because of low shipping costs or foreign exchange rates, it's purely a supply-and-demand imbalance situation caused by strong demand in China and poor supply from other regions.

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