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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