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Australian woodchip industry fears Asian downturn

An expected decline in demand from Asia is forcing one of Australia's most controversial export industries to tighten its belt.

Maurie Ferry reports that production of Australian woodchips is expected to be down by between ten and fifteen per cent next year.

"Australia exports more than five million tonnes of woodchips a year, from mills in Tasmania, Western Australia and New South Wales. But, the trade which is worth about three hundred and 50 million dollars a year has been hit by the softening global economy, particularly in Asia. Australia's oldest woodchip company, Harris Daishowa says the short term outlook for the industry is not good. Spokesman, Vince Phillips: "The Japanese market is probably facing a couple of more sort of difficult years and the Indonesian market is up and down. I think the events of September over in America didn't help and affected confidence right across the board ... so I think next year is going to be a bit tougher than we expected."

11/12/01 12:53:54 | ABC Radio Australia News

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