Continuing strong growth, log exports reached a new record for the year-ended November 2015, topping the 3 million cubic metre mark for the first time. Exports totalled 3,086,233 m3 over the twelve months, 20.9% higher than for the year prior. As ever, softwood log exports continue to dominate, accounting for 90.7% of total exports by volume.
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As the chart above demonstrates, year-on-year log export growth has been virtually unchecked for three years, albeit with some variable monthly export volumes, at least until a year ago. Over the course of 2015, log exports have exhibited an almost singular direction, growing almost every month.
Expectations must be that annualised log exports will continue to show growth in coming months.
In Australian Dollar terms, the value of log exports has also grown over the year-ended November 2015, reaching AUD377 million up 17.8% over the full year. This increase was modestly lower than the rise in volumes, indicating that the average price of imports was marginally lower for the year-ended November 2015 than for the prior year.
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The export price for logs had been very variable for many years. However, the last two years has seen more stable conditions apply to pricing, both because of the increased volumes and in support of them.
