New Zealand’s Pulp Exports by Port: Jan ’15 – Nov ’19 (tpm & NZDFob/t) source: Statistics NZ
New Zealand’s pulp exports rose 7.2% year-ended November 2019, at the same time as average export prices fell more than 32% in New Zealand dollar terms. Sources: Timberbiz, IndustryEdge
Exports for the year totalled 960,830 tonnes, with the average price in November falling to NZDFob662/t, or NZD313/t lower than a year earlier.
Given the continual fall in global pulp prices, there is little surprise that pulp prices have fallen.
In US dollar terms, the currency in which most pulp transactions are conducted, the average export price in November 2019 was USDFob424/t, almost 36% lower than a year earlier.
Although the magnitude of the price declines is to be expected, the actual USD prices are relatively low, compared with Chinese prices for the main chemical pulp grades. This has more to do with the grades of pulp being exported, than it does with exchange rates.
What is perhaps more surprising is that against the backdrop of declining prices, export volumes increased.
The chart above provides the details since January 2015, detailing New Zealand’s pulp exports by port and the average export price.
