NZ log export markets update

New Zealand Exports
The first quarter log import totals from New Zealand into China equaled just over 1.5 million cubic metres. This is down 25% on the last quarter of 2011 and down 17% year-on-year for the first quarter. New Zealand still maintained 25% of the market share of Chinese imports in Q1 of 2012, down from 27% of market share in Q1 of 2011.

China
Chinese log imports for Q1 of 2012 equaled 6.15 million cubic metres, this is down 21% form Q4 of 2011 and down 11% Q1 of 2011.

Russia
Imports into China from Russia were down 4% in Q1 of 2012 compared to the last quarter of 2011. Year-on-year imports from Russia were also down. Russia still maintains 46% of the market share in China for softwood logs, this is about the same level as a year ago.

Pacific North West
Imports from the PNW in the first quarter of 2012 were around 1.27 million cubic metres, this was the only major exporter to China to show a year-on-year lift in export volume, up 11% on the first quarter of 2011. However, the volume imported into China from the PNW was down 34% in Q1 of 2012 compared to the fourth quarter of 2011. The PNW has about 21% of the market share in China, this is up on year ago levels and up four fold on two years ago.

South Korea
New Zealand experienced a massive lift in export volume to South Korea in March, up 109% in Q1 2012 compared to Q4 of 2011, and up by 102% year-on-year. This is boost to New Zealand, as in recent months market share had been lost to the PNW. New Zealand normally maintains about half of the market share into South Korea.

Source: www.nzxagri.com/agrifax