Australia’s exports of softwood logs continued over recent months, but the pattern of exports has changed, with larger logs (>15cm) less likely to be exported and smaller logs (,15cm) filling the gap. That was most evident in March 2020, with annualised exports of smaller dimension logs lifting 8.6% compared with the prior month, to a new record 1.401 million m3.
In aggregate, softwood log exports totalled 3.547 million m3 over the year-ended March, up 0.7% on the prior month and 1.7% higher than a year earlier. We can see below that total exports have been relatively stable over the last year.
Fig. 15
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We can also see however, that amidst the stability in aggregate exports, over the year-ended March, exports of softwood logs <15cm diameter (shown in green) expanded to reach a new record at 1.401 million m3. Their growth compared to a year earlier was almost 130%.
The chart below isolates the exports of these smaller dimension logs (4403.22.00, 4403.26.00), but it is not the only story here. What is also relevant – and many will consider more so – is that exports of the larger dimension (>15 cm) logs have fallen to historic lows, totalling 2.146 million m3 year-ended March and down 25.0% compared with a year earlier.
Fig. 16
To go straight to the dashboard and take a closer look at the data, click here.
It is important to note that when we talk about historic and record levels with the softwood log export data, we are really examining data only from the start of 2017, when the global trade system started distinguishing coniferous log trade by dimensions.
Regardless, consistent with anticipated and reported positions of major growers and exporters, transfer of larger dimension logs to international markets are well and truly on the decline, while the smaller dimension logs are increasing their contribution to total exports.
