Australia's role as a hardwood chip supplier to China and Japan has dramatically diminished in 2020, with shipments having fallen by 38% from last year
Shipments in 2020 have continued to slide, with volumes during the first nine months being 38% lower than during the same period in 2019.
- Shipments in 2020 have continued to slide, with volumes during the first nine months being 38% lower than during the same period in 2019.
- In the 3Q/20, the estimated export volume reached its lowest level in almost seven years (see chart).
- Not only has Australia's role in the Asian chip market diminished, market prices for the country's wood chips also declined in 2020.
- However, a weakening Australian dollar has benefited chip exporters, with prices in the local currency reaching record highs in 2020.