New Zealand export log prices increased in May due to the higher shipping costs caused by the weaker currency offsets.
The average wharf gate price for New Zealand A-grade logs edged up to $120 a tonne in May, from $119 a tonne in April, according to AgriHQ's monthly survey of exporters, forest owners and saw millers.
As reported by the Business Desk, the in-market price of A-grade logs in China, New Zealand's largest market, advanced to US$113/JAS from US$111/JAS last month as inventory levels on Chinese ports remain moderate, following a relatively low buildup of stock on ports during the Chinese New Year holiday period.