SnapSTAT - Commodities index a mixed bag; forestry ho-hum

Friday 19 Apr 2024

The current quarterly update of the ANZ Research Commodity Price Index reveals the forestry index fell 0.3% m/m in March, giving up all the gains made the previous month. Prices are expected to fall further as demand from China is reported to be extremely weak. Exporters had hoped for an improvement in demand after Chinese New Year, but this has not eventuated. Logs are now building up on wharves in New Zealand as well as stocks increasing at ports in China.

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