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ITC Secures Maintenance of Benchmark Price for Australian Plantation Grade Woodchip
ITC Limited (ITC), Australia's leader in sustainable hardwood forestry products, has announced the conclusion of negotiations for the second half 2009 benchmark price for Australian plantation grown bluegum woodchip for export to Japan.
The negotiations secured maintenance of the existing price of $207.40 free on board (FOB) per bone dry metric tonne (BDMT), for environmentally certified plantation grown bluegum exported from Australia. The price is applicable for sales from 1 July to 31 December 2009.
Mr. Vince Erasmus, Chief Executive Officer of ITC, who led the negotiations on behalf of Australian plantation hardwood producers, said the maintenance of the export price in current conditions was an "extremely positive outcome given global economic conditions. To maintain price in these circumstances is very heartening for growers and investors and a telling reminder that Australian certified plantation grown woodchip is a valued commodity in our major export markets."
"We are naturally very pleased that ITC has been able to retain 2008 level pricing and the certainty this provides growers and investors in our certified hardwood plantations," Mr. Erasmus said.
Read more on this release
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