Friday, 30 March 2012 11:48

Small fall in forestry earnings

Written by Pamela Tipa

font size decrease font size increase font size
Print
Email

A developing oversupply of logs in China and continuing currency pressure has resulted in a small fall in New Zealand forestry export earnings for the latest quarter.

The Ministry of Agriculture and Forestry has this week released forestry production and trade figures for the December 2011 quarter.

The total value of New Zealand forestry exports for the quarter to 31 December 2011 was down $56.1 million on the previous December quarter, at NZ$1.1 billion.

But overall earnings were up for the 2011 calendar year (to 31 December), because China drove strong demand during the middle part of the year. The value of forestry exports increased by NZ$257.5 million to NZ$4.5 billion for the year.

Forestry still accounted for around 10% of New Zealand's total merchandise exports, at 9.8% for the 2011 calendar year (ending 31 December), compared with 10.2% the previous year.

Conditions were still challenging for the sawn timber industry, with total export earnings and volumes decreasing to NZ$751.0 million and 1.9 million cubic metres. MAF reports this is due to continuing weak housing sectors in the high-value United States and Australian markets, exacerbated by high exchange rates for key trading currencies.

For more information, go to the full reports in the Publications section of the MAF website.

More like this

Government policies threaten NZ’s 2030 export goals, farmers warn

The Government is being warned that some recent bad policy decisions are undermining its target of doubling exports by 2030.

A golden season for kiwifruit exports

According to new figures from Stats NZ, kiwifruit exports were valued at $3.1 billion in the year ended August 2024.

Zespri driving towards low-emissions international shipping

Zespri, in collaboration with ANL/CMA CGM, has initiated a feasibility study to investigate the potential for a low-emissions shipping corridor from Tauranga to Zeebrugge, Belgium, through the Panama Canal.

$160 billion cargo shipment deal

New Zealand’s major primary industry exporters have secured shipping capability to export $160 billion worth of products over the next 10 years.

Its all about ag exports

OPINION: The Public Service in New Zealand between 2017 and 2023 grew rapidly from 48,000 to over 64,000, and this does not include the use of consultants.

Featured

Primary sector future hailed

The government is hailing the news that food and fibre exports are predicted to reach a record $62 billion in the next year.

Glut in global milk supply keeping prices down

The final Global Dairy Trade (GDT) auction has delivered bad news for dairy farmers.

Farmers and industry leaders respond to new RMA replacement legislation

One person intimately involved in the new legislation to replace the Resource Management Act (RMA) is the outgoing chief executive of the Ministry for the Environment, James Palmer, who's also worked in local government.

NZ horticulture exports projected to rise to $9.2 billion by 2026

Horticulture New Zealand (HortNZ) says a new report projects strong export growth for New Zealand's horticulture sector highlights the industry's increasing contribution to the national economy.

Fonterra shareholders watch performance after sale

Fonterra shareholders say they will be keeping an eye on their co-operative's performance after the sale of its consumer businesses.

T&G Global apple returns jump 25% on strong 2025 season

T&G Global says its 2025 New Zealand apple season has delivered higher returns for growers, reflecting strong global consumer demand and pricing across its Envy and Jazz apple brands.