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Cyclones dampen forestry production

Rain and wind from the ex-cyclones which lashed New Zealand’s central and lower North Island in the past fortnight, slowed production rates and damaged trees, AgriHQ analyst Reece Brick said in his monthly forestry market report. Source: TVNZ

“This should slow offerings to the market, but will obviously only benefit those not impacted by the weather.”

AgriHQ’s Brick noted that the East Coast and Hawke’s Bay were significantly impacted, areas which account for about 17% of the country’s pine plantations.

The stormy weather conditions also caused havoc to sea conditions, forcing at least one ship to cancel its booked shipments to and from New Zealand, and delaying many other shipments, Mr Brick said.

“Ultimately, this will curb April export volumes.”

Forest products are New Zealand’s third-largest commodity export group behind dairy and meat products.

Mr Brick’s monthly survey of exporters, forest owners and saw millers showed prices were little changed this month.

AgriHQ noted that shipping rates to China had lifted and shipping capacity was more difficult to secure than earlier in the year.