Queensland and Victorian log prices questionedFriday 22 Jun 2012 Carter Holt Harvey Ltd and Timber Queensland Pty Ltd. are calling for an investigation into Hancock Timber Resource Group’s log pricing practices in Queensland and Victoria, Australia, reported ABC News on 20 June.Sawmills in the two Australian states are seeing their profits eroded by having to deal with “essentially monopolistic organizations” that continually raise prices while sawmills are forced to cut their prices in a competitive world market, said Ian Tyson from Carter Holt Harvey. Timber Queensland voiced similar concerns last week, said Tyson. Both Australia-based groups want Hancock Timber’s pricing strategy investigated by the Australian Competition and Consumer Commission and appropriate state agencies, ABC News reported. Most of Hancock Timber’s supply agreements include mechanisms allowing for log prices to be adjusted in line with market conditions, Hancock Timber said in a statement, noting that it would continue to work with customers on pricing issues. Source: Industry Intelligence |
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