China Forestry Update

Thursday 9 Apr 2020

- Overall, China’s wood industry production appears back to fairly normal levels. The World Bank has noted that there are signs of improvement.

- Due to supply restrictions, North American soft wood prices are increasing. The price is reported as being volatile and is changing every few days.

- China is seeking product from the US south east, and Chile is moving in with P. radiata products. There are also reports China is a substituting NZ fibre for Australian fibre as it is a reliable supply. The NZ Forestry Sector is concerned this is a high risk to NZ’s market share due to not being able to supply product.

- A report from China’s National Forestry and Grassland Administration is warning of possible financial instability within China’s wood processors and urges government support mechanisms to target small and medium sized businesses, as well as broader industry support in the context of low external demand.

Source: Te Uru Rākau

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