world news - 07.07.2003
Weak US$ affects global forest Industry: A downturn in the US market, strengthened domestic currency and ownership changes have combined to resulted lay-offs and profit warnings from some companies in the Southern Hemisphere.
So far, reports indicate the New Zealand timber and forestry sector has been badly affected, with a number of companies have reported having to downsize or even close.
The Australian Bureau of Agricultural and Resource Economics is expected to account for the effects of a 13 per cent gain in the local currency in the past three months on key exports.
In Brazil prices continue to rise in US dollar on the domestic market due to the steady strengthening of the Brazilian Real against the dollar. The average US dollar exchange rate fell more than 7% from April to June of this year.
See also:
- — Metso Paper will rebuild a pulp and paper mill of the Slovakian pulp and paper producer.....
- — US-Home Sales Hit New Record In May
- — Difficult Wood Market in Japan
- — China: Russian Timber Exports to Fall
- — Japan: Importers Projections for 2003. The Japan Log and Lumber Importers Association has released its projection of imports for major forest products for 2003.
