Australian Pine Log Price Index

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Australian Pine Log Price Index"

Transcription

1 Australian Pine Log Price Index Updated to June 28 : ADVISORY

2 This page has been intentionally left blank. Advisory This report contains 39 pages HVP8 Jan - Jun (Public Version) 26 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International

3 Contents 1 About the Pine Log Index Summary Small s Intermediate s Medium s Large s Preservation logs Pulplogs Salvage logs Export s and export pulplogs 15 3 Index methodology Scope Price calculations Comments on the structure of the Index 19 HVP8 Jan - Jun (Public Version)Final 24 September 28 i

4 Disclaimer Inherent Limitations This report has been prepared as outlined in Sections 1 and 3 of this report, and the procedures outlined in Section 3 constitute neither an audit nor a comprehensive review of operations. The findings in this report are based on data provided by Queensland DPI Forestry, State Forests NSW, ACT Parks Conservation and Lands, HVP Plantations and Forestry SA ( the Grower Organisations ). Any projection to the wider softwood industry is subject to the level of bias in the method of sample selection. No warranty of completeness, accuracy or reliability is given in relation to the statements and representations made by, and the information and documentation provided by, the Grower Organisations consulted as part of the process. KPMG has indicated within this report the sources of the information provided. We have not sought to independently verify those sources unless otherwise noted within the report. KPMG is under no obligation in any circumstance to update this report, in either oral or written form, for events occurring after the report has been issued in final form. The findings in this report have been formed on the above basis. Third Party Reliance This report is solely for the purpose set out in Sections 1 and 3 of this report and for the Grower Organisations information, and is not to be used for any other purpose or distributed to any other party without KPMG s prior written consent. This report has been prepared at the request of the HVP Plantations in accordance with the terms of KPMG s engagement letter dated 18 December 2. Other than our responsibility to HVP Plantations, neither KPMG nor any member or employee of KPMG undertakes responsibility arising in any way from reliance placed by a third party on this report. Any reliance placed is that party s sole responsibility. HVP8 Jan - Jun (Public Version)Final 24 September 28 1

5 1 About the Pine Log Index The ( the Index ) is compiled by KPMG using data provided by Australian softwood growers. The Index documents changes in pine log prices achieved by large-scale commercial plantation owners selling common grades of plantation softwood logs to domestic processors. KPMG updates the Index biannually, with the two reporting periods being January to June and July to December. The Index has a base period of January to June KPMG acts as the independent Index manager and collects confidential data on log volumes and stumpage values for all sales, including long and short-term contracts and spot transactions, at the end of each reporting period. Quantity information on export s and export pulpwood is also provided. The following report presents the result of the Index from January 1995 to June 28. The prices for all classes of s, preservation logs and export s are reported in dollars per cubic metre ($/m 3 ). The prices for the pulplogs and export pulplogs are reported in dollars per tonne ($/t). Contributions to the Index are made by major growers who are involved in the growing and management of softwood plantations in southern and eastern Australia. The list of growers is shown in Table 1. Table 1: Grower contributors State/Territory Grower organisation Region Australian Capital Territory Parks Conservation and Lands 1 ACT New South Wales State Forests NSW Bathurst Tumut Queensland South Australia Queensland DPI Forestry Forestry SA SE Queensland Lofty Ranges Green Triangle Mid North Ballarat La Trobe Victoria HVP Plantations 2 Victoria NE Victoria SW Please note that Parks, Conservation and Lands has informed us that the ACT Government is still undecided as to the future of the plantation in the ACT, and as such there was no harvest for this period. This report updates the for the period of. 1 Parks Conservation and Lands was previously known as ACT Forests. 2 Hancock Victorian Plantations recent amended their trading name to HVP Plantations 1

6 2 2.1 Summary The following table summarises the Index data since January The Index is calculated on weighted average prices using the period of January to June 1998 as a base of 1. For the period of, the small index decreased from the July to December 27 period by 3 points, whereas the intermediate, medium and large indices all returned increases. The preservation log index recorded a decrease of 4 points, whilst the pulplog index recorded an increase of 1 points. The salvage log index decreased by 11 points. Table 2: Summary of Index data. Refer to Table 3 for specification of prices and other data. Jan 95 Jun 95 Small Intermed. Australian Pine Log Index Domestic Medium Large Preservation Pulplog Salvage log Index Maximum $ $38.97 $62.78 $87.13 $17.99 $18. $13.23 $31.23 Minimum $ $17.9 $33.34 $39.5 $41.5 $12.25 $8.69 $8.21 Sawlog Export Pulplog Weighted Av. $ $32. $45.38 $6.29 $68.82 $14.9 $11.5 $12.28 m 3 or tonnes 3 539,82 491, ,86 245,444 87,786 1,29,715t 83,36 Jul 95 Dec 95 Index Maximum $ $39.82 $64.14 $89.3 $11.34 $19.1 $13.22 $19.17 Minimum $ $18.63 $31. $45.43 $49.2 $6.47 $8.32 $14.86 Weighted Av. $ $33.85 $48.99 $64.78 $73.66 $15.93 $1.29 $17.17 m 3 or tonnes 1 518,31 499,672 48, ,71 97, ,294t 8, Jan 96 Jun 96 Index Maximum $ $41.59 $66.99 $92.99 $ $19.1 $13.19 $25.43 Minimum $ $19.28 $31.77 $4.86 $44.16 $1.42 $8.86 $12.39 Weighted Av. $ $37.63 $51.39 $65.1 $74.51 $15.84 $1.28 $16.42 m 3 or tonnes 1 42, , , ,21 99,17 629,134t 65,115 4,214 Jul 96 Dec 96 Index Maximum $ $4.81 $65.74 $91.25 $113.9 $19.1 $14.5 $23.9 Minimum $ $18.7 $29.74 $43.34 $4.4 $1.1 $8.48 $17.33 Weighted Av. $ $37.39 $5.91 $64.72 $74.31 $15.85 $9.64 $2.38 m 3 or tonnes 1 418, ,774 3, ,561 18,782 72,164t 52,379 1,644 3 All pulplogs are measured in tonnes. 2

7 Jan 97 - Jun 97 Small Intermed. Medium Australian Pine Log Index Domestic Large Preservation Pulplog Salvage Log Index Maximum $ $4.5 $65.25 $9.56 $ $19.1 $12.87 $3. Minimum $ $2.8 $31.45 $41.37 $41.4 $11. $9.35 $12.64 Sawlog Export Pulplog Weighted Av. $ $36.63 $48.49 $62.68 $72.81 $16.74 $1.31 $2.18 m 3 or tonnes 1 454, , , ,134 84, ,49t 65,5 13,637 Jul 97 - Dec 97 Index Maximum $ $4.33 $64.97 $9.17 $ $19.1 $14.16 $21.22 Minimum $ $15.3 $3.28 $44.22 $34.39 $11. $9.74 $16.11 Weighted Av. $ $34.39 $44.65 $59.27 $69.61 $17.53 $11. $17.84 m 3 or tonnes 1 53,256 61,333 57, ,229 17,22 1,37,717t 61,44 67,87 9,64t Jan 98 - Jun 98 Index Maximum $ $39.5 $62.9 $87.3 $18.2 $23.22 $13.94 $2.17 Minimum $ $14.24 $3.82 $44.52 $44.34 $1.7 $6.84 $11.46 Weighted Av. $ $32.23 $44.4 $61.43 $71.99 $18.7 $1.56 $18.3 m 3 or tonnes 1 583,2 774, , ,16 141, ,222t 98,23 13,654 5,211t Jul 98 - Dec 98 Index Maximum $ $4.6 $64.53 $89.57 $111.2 $23.98 $14.42 $25.5 Minimum $ $15.4 $32.99 $47.61 $5.94 $1.13 $8.35 $9.22 Weighted Av. $ $33.44 $45.74 $64.43 $75.9 $2.56 $1.5 $21.62 m 3 or tonnes 1 554, , ,534 25,3 126,514 9,351t 1,626 46,667 49,467t Jan 99 - Jun 99 Index Maximum $ $38.93 $62.71 $87.4 $17.88 $23.54 $11.89 $23.91 Minimum $ $15.93 $33.84 $49.98 $53.45 $11.49 $9.7 $8.55 Weighted Av. $ $31.57 $43.9 $62.52 $74.7 $19.98 $1.35 $21.5 m 3 or tonnes 1 585, ,543 56, ,88 14,97 983,519t 19,748 93,874 53,533t Jul 99 - Dec 99 4 Index Maximum $ $41.7 $66.16 $91.83 $ $23.69 $12.79 $22.37 Minimum $ $13.21 $21.6 $51. $54.51 $5.31 $9.32 $9.5 Weighted Av. $ $33.37 $44.5 $63.89 $76.41 $2.44 $1.18 $19.94 m 3 or tonnes 1 627,44 742, , ,685 97, ,547t 98,493 87,257 87,673t 1 All pulplogs are measured in tonnes. 4 The period July to December 1999 includes only four months data from one grower. 3

8 Jan - Jun Small Intermed. Medium Australian Pine Log Index Domestic Large Preservation Pulplog Salvage Log Index Maximum $ $4.58 $65.37 $9.74 $ $23.7 $12.78 $27.18 Minimum $ $15.56 $27.58 $45.7 $52.18 $7.51 $7.56 $4.9 Sawlog Export Pulplog Weighted Av. $ $32.72 $44.27 $64.89 $76.9 $2.76 $9.67 $23.9 m 3 or tonnes 1 721, , , ,175 73,95 893,35t 119,697 13, ,425t Jul - Dec Index Maximum $ $44.79 $65.23 $9.54 $ $23.59 $13.7 $24.68 Minimum $ $6.43 $17.52 $35.4 $43.8 $13.15 $7.75 $8.46 Weighted Av. $ $34.1 $44.87 $66.68 $78.87 $19.88 $9.4 $22. m 3 or tonnes 1 61, ,26 464, ,482 89,325 1,93,219t 94,779 18, ,38t Jan 1 Jun 1 Index Maximum $ $49.98 $63.64 $88.33 $19.48 $21.97 $14.39 $22.46 Minimum $ $7.74 $2.31 $39.74 $47.49 $12.5 $7.73 $18. Weighted Av. $ $34.9 $44.32 $65.58 $77.33 $19.62 $9.16 $21.25 m 3 or tonnes 1 536,88 692, , ,172 17,888 2,89,265t 79,76 131, ,673t Jul 1 Dec 1 Index Maximum $ $43.69 $62.11 $86.21 $16.84 $23.95 $17.24 $26.57 Minimum $ $14.67 $28.3 $44.17 $52.5 $12.42 $4. $5.95 Weighted Av. $ $33.41 $45.46 $63.23 $75.3 $18.42 $9.49 $23.29 m 3 or tonnes 1 624, ,31 539,48 172,391 13,89 1,157,145t 94, ,933 14,172t Jan 2 Jun 2 Index Maximum $ $46. $64.8 $89.94 $ $25.14 $15.91 $25.55 Minimum $ $13.73 $27.34 $46.23 $52.26 $1.64 $2. $5.32 Weighted Av. $ $33.59 $45.64 $64.39 $77.22 $18.66 $9.87 $23.5 m 3 or tonnes 1 672, ,71 562,747 22, ,744 1,73,838t 85,132 15, ,46t Jul 2 Dec 2 Index Maximum $ $39.59 $63.77 $88.51 $19.7 $22.91 $21.3 $26.62 Minimum $ $17.49 $29.65 $44.6 $5.91 $11.3 $2. $14.44 Weighted Av. $ $34.1 $46.59 $66.3 $77.25 $2.67 $9.42 $24.6 m 3 or tonnes 1 73,66 837, ,885 26, ,54 1,58,889t 95, , ,675t 4

9 Jan 3 Jun 3 Small Intermed. Medium Australian Pine Log Index Domestic Large Preservation Pulplog Salvage Log Index Maximum $ $4.48 $65.21 $9.51 $ $24.17 $15.87 $28.55 Minimum $ $14.87 $27.4 $42.84 $51.22 $12.61 $2.3 $15.25 Sawlog Export Pulplog Weighted Av. $ $33.7 $47.53 $65.35 $76.22 $2.24 $1. $24.39 m 3 or tonnes 1 799,14 789, ,361 28, ,162 1,14,614t 194,832 74, ,567t Jul 3 Dec 3 Index Maximum $ $4.79 $65.71 $91.21 $113.5 $28.57 $19.14 $27.86 Minimum $ $7.24 $13.74 $39.5 $52.54 $1.64 $.85 $15.86 Weighted Av. $ $34.41 $47.19 $65.39 $78.51 $19.85 $1.7 $22.35 m 3 or tonnes 1 832, , ,815 27,87 138,296 1,293,95t 111,481 81,8 75,274t Jan 4 Jun 4 Index Maximum $ $4.54 $65.3 $9.63 $ $26.78 $17.34 $24.4 Minimum $ $1.25 $15.7 $37.11 $54.31 $13.88 $1.48 $4.68 Weighted Av. $ $32.95 $46.14 $64.33 $77.65 $2.99 $8.93 $18.82 m 3 or tonnes 1 777, , , ,364 1,574 1,228,894t 117,328 83, ,642t Jul 4 Dec 4 Index Maximum $ $41.24 $66.43 $92.2 $ $28.2 $16.89 $27.54 Minimum $ $14.52 $21.59 $41.36 $54.84 $11.64 $2.27 $8.17 Weighted Av. $ $34.6 $46.32 $67.6 $78.82 $22.13 $9.47 $25.8 m 3 or tonnes 1 794, ,152 6, , ,262 1,183,999t 62,3 28,497 5,461t Jan 5 Jun 5 Index Maximum $ $41.8 $66.18 $91.86 $ $25.54 $16.67 $26.76 Minimum $ $5.8 $12.35 $38.91 $44.76 $14.37 $.7 $7.42 Weighted Av. $ $35.26 $47.43 $68.17 $8.15 $22.65 $9.27 $23.49 m 3 or tonnes 1 723,447 83,2 559,62 212,472 14,427 1,34,779t 7,65 36,79 74,195t 5

10 Jul 5 Dec 5 Small Intermed. Medium Australian Pine Log Index Domestic Large Preservation Pulplog Salvage Log Index Maximum $ $4.75 $65.65 $91.12 $ $27.1 $13.22 $23.1 Minimum $ $7.4 $13.1 $37.38 $45.39 $ $(4.53) $1.93 Sawlog Export Pulplog Weighted Av. $ $34.69 $47.56 $65.99 $78.52 $22.6 $8.96 $2.8 m 3 or tonnes 1 75, , ,575 26,849 88,773 1,248,517t 98,18 57,599 27,812t Jan 6 Jun 6 Index Maximum $ $4.23 $64.8 $89.95 $ $29.47 $2.67 $29.48 Minimum $ $8.48 $14.12 $36.71 $45.5 $ $(4.14) $16.92 Weighted Av. $ $34.6 $47.16 $66.52 $8.39 $23.37 $1.2 $24.58 m 3 or tonnes 1 771, ,386 68,645 23,7 94,965 1,182,8t 16,198 28,138 56,84t July 6 Dec 6 Index Maximum $ $39.22 $63.17 $87.68 $18.67 $ $34.9 Minimum $ $4.6 $12.34 $41.88 $55.8 $ $(5.23) $17.72 Weighted Av. $ $33.97 $46.49 $66.6 $83.47 $22.35 $9.87 $25.19 m3 or tonnes 1 787,85 881, , ,456 97,939 1,253,484 15,381 21,27 36,845t Jan 7 Jun 7 Index Maximum $ $4.23 $64.8 $89.94 $ $32.39 $21.18 $28. Minimum $ $5.11 $11.47 $4.48 $54.24 $ ( $6.58) $17.99 Weighted Av. $ $34.89 $46.6 $64.33 $79.21 $22.9 $1.66 $25.98 m3 or tonnes 1 788,292 97,896 74, ,216 97,9 1,13,512 14,777 26,447 12,38t July 7 Dec 7 Index Maximum $ $41.17 $66.32 $92.6 $114.1 $33.73 $25. $29.13 Minimum $ $8.44 $15.84 $44.88 $58.86 $ ($7.25) $14.49 Weighted Av. $ $34.78 $46.4 $64.63 $78.46 $22.25 $9.33 $27.67 m3 or tonnes 1 777, , ,47 239,8 117,299 1,62,186 19,934 9,62 137,427t 1 All pulplogs are measured in tonnes. 5 One grower reported a negative price for pulplogs. The grower has confirmed to KPMG that this is correct and that the negative price should be reported in the Index. It has came about through predetermined contract prices and rising haulage and fuel costs. 6

11 Australian Pine Log Index Domestic Small Intermed. Medium Large Salvage Preservation Pulplog Log Jan 8 June 8 Index Maximum $ Minimum $ Sawlog Export Pulplog Weighted Av. $ m3 or tonnes 1 921,386 1,15, ,924 23, ,397 1,77,55 18,696 12, ,235 7

12 2.2 Small s Small s are all logs suitable for sawmilling with a diameter of less than 24. centimetres small end diameter under bark. Number of average price changes Reasons for changes greater than 1 percent Increase 5 Changes greater than 1 percent 2 Decrease 5 Growers reporting sales 1 Reported reasons for changes: Revised pricing associated with the commencement of mill door delivery. Smaller volumes of log intake between customers resulted in price increase. The charts below and in the remainder of section 2 report on the Index values, volumes or weights and the maximum, minimum and weighted average prices for each class of log. Small Sawlogs $5. $4. $3. $2. $1. $ Maximum ($/m3) Minimum ($/m3) Weighted Average ($/m3) Small Sawlogs m3 1,2, 1 1,, 8 8, 6 6, 4 4, 2 2, Index Volume (m3) 8

13 2.3 Intermediate s Intermediate s are all logs suitable for sawmilling. Their small end diameter under bark ranges from 24. centimetres to 31.9 centimetres. Number of average price changes Reasons for changes greater than 1 percent Increase 7 Changes greater than 1 percent 2 Decrease 3 Growers reporting sales 1 Reported reasons for changes: Variation in the ratio of log intake between customers. Intermediate Sawlogs $7. $6. $5. $4. $3. $2. $1. $ Maximum ($/m3) Minimum ($/m3) Weighted Average ($/m3) 12 Intermediate Sawlogs m3 1,2, 1 1,, 8 8, 6 6, 4 4, 2 2, Index Volume (m3) 9

14 2.4 Medium s Medium s are all logs suitable for sawmilling with a diameter range between 31.9 centimetres and 43.9 centimetres small end diameter under bark. Number of average price changes Reasons for changes greater than 1 percent Increase 6 Changes greater than 1 percent 1 Decrease 2 Growers reporting sales 8 Reported reason for change: Smaller volume of logs sold delivered higher prices. Medium Sawlogs $1. $8. $6. $4. $2. $ Maximum ($/m3) Minimum ($/m3) Weighted Average ($/m3) Medium Sawlogs m3 12 1,, 9, 1 8, 8 7, 6, 6 5, 4 4, 3, 2 2, 1, Index Volume (m3) 1

15 2.5 Large s Large s are all s suitable for sawmilling with a diameter greater than 43.9 centimetres small end diameter under bark. Number of average price changes Reasons for changes greater than 1 percent Increase 6 Changes greater than 1 percent Decrease 2 Growers reporting sales 9 6 Reported reason for change: Smaller volume of logs sold delivered higher prices. Large Sawlogs $12. $1. $8. $6. $4. $2. $ Maximum ($/m3) Minimum ($/m3) Weighted Average ($/m3) 12 Large Sawlogs m 3, 1 25, 8 2, 6 15, 4 1, 2 5, Index Volume (m3) 6 A grower reported no change in prices for the period. 11

16 2.6 Preservation logs Preservation logs are those sold to domestic treatment plants for use as poles, rails and posts. Posts generally form the majority of sales by volume. Number of average price changes Reasons for changes greater than 1 percent Increase 5 Changes greater than 1 percent 2 Decrease 2 Growers reporting sales 7 Reported reasons for changes: Smaller volumes of logs sold received higher prices. Preservation Logs $35. $3. $25. $2. $15. $1. $5. $ Maximum ($/m3) Minimum ($/m3) Weighted Average ($/m3) Preservation Logs m 14 2, 12 18, 16, 1 14, 8 12, 1, 6 8, 4 6, 2 4, 2, Index Volume (m3) 12

17 2.7 Pulplogs Pulplogs are defined as logs sold to domestic manufacturers of pulp and paper, woodchip and fibre-based panels and other such products, including logs processed for export woodchip. Number of average price changes Reasons for changes greater than 1 percent Increase 5 Changes greater than 1 percent 3 Decrease 3 Growers reporting sales 8 Reported reasons for changes: Increase in transport costs caused price decrease. Pricing gain and change in mix lead to average price increase. Pulplogs $35. $3. $25. $2. $15. $1. $5. $. -$5. -$1. -$ Maximum ($/t) Minimum ($/t) Weighted Average ($/t) Pulplogs tonnes 1,6, 1,4, 1,2, 1,, 8, 6, 4, 2, Index Weight (tonnes) 13

18 2.8 Salvage logs Salvage logs represent all logs excluded from the other log classes on the basis of price and wood quality. Salvage logs may include break/edge tree logs, damaged logs, one-off spot sales, odd lot volumes of other species and short logs (less than industry standard minimum length). The Index considers stumpage prices for various sizes of product classified as salvage logs. Its outcomes are based on the weighted average price of logs of any diameter included as a salvage product. The table and graphs below summarise the number of average price changes and the number of and reported reasons for, average price changes greater than 1 percent. Number of average price changes Reasons for changes greater than 1 percent Increase 2 Changes greater than 1 percent 1 Decrease 1 Growers reporting sales 3 Reported reason for change: Revised sales and harvesting arrangements. Salvage Logs $4. $35. $3. $25. $2. $15. $1. $5. $ Maximum ($/m3) Minimum ($/m3) Weighted Average ($/m3) Salvage Logs m3 25, 2, 15, 1, 5, Index Volume (m3) 14

19 2.9 Export s and export pulplogs Reported total sales for export s by volume have decreased by 64 percent while the tonnages for export pulplogs have increased by 14 percent since the prior reporting period. Three regions reported the sales of export s and four regions recorded sales of export pulplogs this period. The sales volumes or weights for both classes since January 1995 are shown in the graph below. Exports 3, 25, 2, 15, 1, 5, m3 or tonnes Sawlogs (m3) Pulplogs (t) 15

20 3 Index methodology KPMG coordinates the preparation of the Index for each six-month period ending 3 June and 31 December. This involves the collection of data from each participating grower organisation and the preparation of this report. Ownership of the remains with those contributing organisations. The Index data represents aggregated information from all contributing growers and includes the weighted average price; price per cubic metre; price range; price index (based on the period January to June 1998, which is set at 1); and total volume of each Index product sold over the period. KPMG calculates for each log class the: maximum price; minimum price; weighted average price; and change in the index. These calculations are on the basis of input data provided by growers. KPMG does not audit or express any opinion on that data. Each contributing organisation is asked to provide explanations for changes in price greater than 1 per cent. These explanations have been summarised in section 2 of this report. The Index s intent is to preserve the confidentiality of individual growers prices and quantities. 3.1 Scope The Index includes sales of all plantation grown softwood species, principally comprising Radiata Pine in the southern States and Slash and Hoop Pine in Queensland Products reported The product groups reported in the Index are defined in Table 3. 16

21 Table 3: Product groups reported in the Log class Index product Unit Description Sawlog Class 1 Small $/m 3 All logs suitable for sawmilling with diameter <24. cm sedub.* Sawlog Class 2 Intermediate $/m 3 All logs suitable for sawmilling with diameter range 24. cm 31.9 cm sedub. Sawlog Class 3 Medium $/m 3 All logs suitable for sawmilling with diameter range >31.9 cm 43.9 cm sedub. Sawlog Class 4 Large $/m 3 All logs suitable for sawmilling with diameter >43.9 cm sedub. Pulplog Pulplog $/tonne All logs sold to domestic manufacturers of pulp and paper, woodchip/flake-based panels and other such products, including logs processed for export woodchip. Preservation log Preservation log $/m 3 All logs sold to domestic timber treatment plants including rails, poles and posts. Salvage log Salvage log $/m 3 All logs excluded from the above products generally on the basis of price and wood quality. Price is the weighted average for all sizes of all products i.e. one price only for salvage log. Export Export m 3 All grades and sizes of unprocessed logs sold as export. Total quantity only, price is not recorded. Export pulplog Export pulplog tonne All grades and sizes of unprocessed logs sold as export pulplogs, excluding logs processed for export woodchip. Total quantity only, price is not recorded. *sedub = small end diameter under bark Products excluded Data from the sale of the following products is excluded from the Index: pruned clearwood logs logs that achieve a premium stumpage over normal s, reflecting the value and the cost of growing; plantation hardwood and native forest products; and small volumes of species and products unrepresentative of the defined Index products. 17

22 3.2 Price calculations The is calculated on the weighted average net stumpage achieved by the plantation owner inclusive of all licence fees and charges relating to log value. Net stumpage of each Index Product = Total Revenue / Total Quantity Growers report stumpages to the Index manager. A stumpage price can be set, or calculated using a mill door price. 1. Stumpage sales: Net stumpage is set periodically by the seller in agreement with the buyer and represents the value of the standing tree. 2. Mill door sales or sales resulting from unusual operations (e.g. where the grower has subsidised cable harvesting for particular operational reasons): Net stumpage is defined as delivered sale price less transport and harvesting costs. The growers encourage use of the Index by interested parties; however, all parties should be aware that no attempt has been made to account for variations in factors that influence log value. Such factors primarily relate to additional costs incurred by the plantation owner or log processor. Examples include: 1. The impact of wood quality variation both within and between species, including stem form, wood density, branching characteristics and the inherent level of defects in the wood at a given location. All of these factors will affect mill performance and processed product quality, and hence influence the value recovery from a particular plantation. 2. Log size variation impacts on harvest costs, transport costs, sawn recovery and processing costs. 3. Harvest cost may be affected by soil type, topography, climate, piece size, species, scale of operation, harvest equipment requirements and harvest contract terms and conditions. 4. Log transport costs may vary due to distance, road conditions, topography (effect on transport time), piece size (impact on load and unload costs), equipment configuration/payload and transport contract terms and conditions. 5. Finished product transport costs will vary primarily according to the distance between the processing plant and markets, which impacts on log value. 6. Differences between products harvested from thinnings and clearfell operations, in terms of both extraction cost and value of products recovered. 18

23 7. Any unusual additional costs for example licence or access fees. 8. Impact of variation in log sales contract terms and conditions on resource value, for example the value of long term resource security or the marginal cost impact of shortterm competitive sales. 3.3 Comments on the structure of the Index Readers should be aware of the following potential anomalies that could influence movements in the Index: 1 Each grower s centre diameter class sizes may not precisely match the Index small end diameter sizes. As the Index defines precise data groups, each grower needs to adapt existing internal categories to fit the Index requirements. 2 The Index includes products sold primarily to the domestic market only. Export sale prices are currently not included for either s or pulplogs. 3 There are risks of minor variations in the calculation method between contributing organisations. However, based on the assumption that the adopted methodology appropriately represents the sales value for each period; is applied consistently each period; and remains consistent and representative over time, these risks are assumed to be not material. To assure compliance, an audit process could be introduced but this would be very costly, and its benefits may not outweigh its costs. 4 Any diversity of species included may distort the resulting Index data. Index log product categories need to be grouped on comparable end use. The issue as to whether non-pinus species should be excluded from the Index, or a separate category be introduced for non- Pinus species, is currently unresolved. 5 Mill door prices are not included. It is expected that in some regions the proportion of mill door sales will increase and this may need to be addressed. Future developments to the Index may also show mill door prices, which will be of interest to roundwood purchasers. 6 Log measurement methods are currently not documented by all growers. It is suggested that both the large and small ends of each log be measured under bark, and the average be applied as the half log diameter. Where logs are not individually measured, weights and sample measurements are used to convert these to an equivalent volume and prices by diameter class. 7 There is concern that the size 1 class (<24 cm), as a minimum sedub (small end diameter under bark) is not specified. This minimum sedub will vary for each grower and can range from 12 centimetres to 2 centimetres. There is a high degree of variability in prices because of the high degree in variability in log sizes accommodated by this size category. 19

24 kpmg.com.au 28 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. Printed in Australia. The KPMG logo and name are trademarks of KPMG. Liability limited by a scheme approved under Professional Standards Legislation. 2

FACTORS WHICH INFLUENCE COMPANIES IN FOREST MANAGEMENT DECISIONS

FACTORS WHICH INFLUENCE COMPANIES IN FOREST MANAGEMENT DECISIONS 292 Vol. 6 FACTORS WHICH INFLUENCE COMPANIES IN FOREST MANAGEMENT DECISIONS B. D. McCONCHIE J. G. Groome and Associates, Taupo, New Zealand ABSTRACT Factors which generally influence companies in making

More information

TRADE REPORT. 1 JULY 2006 to 30 APRIL 2007

TRADE REPORT. 1 JULY 2006 to 30 APRIL 2007 TRADE REPORT 1 JULY 2006 to 30 APRIL 2007 Trade Highlights TRADE HIGHLIGHTS Trade through Sydney Ports this year continues to be the strongest on record. Total trade through all of Sydney s ports was 23.1

More information

Timber Harvesting and Long-distance Transportation of Roundwood 2014. Metsätehon tuloskalvosarja 7b/2015 Markus Strandström Metsäteho Oy

Timber Harvesting and Long-distance Transportation of Roundwood 2014. Metsätehon tuloskalvosarja 7b/2015 Markus Strandström Metsäteho Oy Timber Harvesting and Long-distance Transportation of Roundwood 214 Metsätehon tuloskalvosarja 7b/215 Markus Strandström Metsäteho Oy About statistics Includes volumes and direct harvesting costs of timber

More information

Australian forest and wood products statistics March and June quarters 2013

Australian forest and wood products statistics March and June quarters 2013 Australian forest and wood products statistics March and June quarters 2013 Research by the Australian Bureau of Agricultural and Resource Economics and Sciences NOVEMBER 2013 Commonwealth of Australia

More information

Valuing Timber Resource Stocks in the Canadian Natural Resource Stock Accounts

Valuing Timber Resource Stocks in the Canadian Natural Resource Stock Accounts Valuing Timber Resource Stocks in the Canadian Natural Resource Stock Accounts London Group, November 2013 Environment Accounts and Statistics Division Statistics Canada October 18 th, 2013 Quick facts

More information

Conversion Factors and Measurement of Biomass Fuels for Nova Scotia

Conversion Factors and Measurement of Biomass Fuels for Nova Scotia Conversion Factors and Measurement of Biomass Fuels for Nova Scotia Companion to the Discussion Paper: Revisions to Forests Act Regulations Affecting Forest and Wood Biomass Users Revisions to Forests

More information

PB Understanding Log Scales and Log Rules

PB Understanding Log Scales and Log Rules PB 1650 Understanding Log Scales and Log Rules 1 Understanding Log Scales and Log Rules Brian Bond, Former Assistant Professor, Forestry, Wildlife and Fisheries Introduction A necessary step in determining

More information

AS 4708:2013. Interpretation of Requirements relating to the Recovery of Forest Products from a Water Body

AS 4708:2013. Interpretation of Requirements relating to the Recovery of Forest Products from a Water Body AS 4708:2013 Interpretation of Requirements relating to the Recovery of Forest Products from a Water Body BACKGROUND Australian Forestry Standard Limited has been asked for an interpretation of the Australian

More information

A Log Volume Formula for Exporters

A Log Volume Formula for Exporters A Log Volume Formula for Exporters J.C. Ellis Summary This paper shows that the volume estimate of export logs would be more accurate using a taper value in the 3D formula than volumes derived from the

More information

The Benefits of International Diversification on Currency Risk in a Timberland Investment Portfolio

The Benefits of International Diversification on Currency Risk in a Timberland Investment Portfolio The Benefits of International Diversification on Currency Risk in a Timberland Investment Portfolio Introduction Institutional investment in timberland has grown significantly from virtually nil in the

More information

Tree Biomass & Carbon Price & Cost Information. FOR 1001 Dr. Thom Erdle

Tree Biomass & Carbon Price & Cost Information. FOR 1001 Dr. Thom Erdle Tree Biomass & Carbon Price & Cost Information FOR 1001 Dr. Thom Erdle Today s Objectives Meaning and measurement of biomass and carbon Meaning and calculation of stumpage Familiarity with pricing cost

More information

GLOBAL WOOD AND WOOD PRODUCTS FLOW

GLOBAL WOOD AND WOOD PRODUCTS FLOW ITEM 5 GLOBAL WOOD AND WOOD PRODUCTS FLOW TRENDS AND PERSPECTIVES Table of Contents GLOBAL WOOD AND WOOD PRODUCTS FLOW - TRENDS AND PERSPECTIVES... 1 SUMMARY... 2 INTRODUCTION... 3 INTERNATIONAL TRADE...

More information

Timber Mart-South CUT & LOAD CONTRACT RATES. US$ per Ton. Harvest Type LO HI AVG Harvest Type LO HI AVG HAULING RATES

Timber Mart-South CUT & LOAD CONTRACT RATES. US$ per Ton. Harvest Type LO HI AVG Harvest Type LO HI AVG HAULING RATES LOGGING RATES PIEDMONT CUT & LOAD CONTRACT RATES US$ per Ton COASTAL PLAIN Harvest Type LO HI AVG Harvest Type LO HI AVG Final Harvest 10.22 14.67 12.44 Final Harvest 9.00 11.45 10.23 Plantation Thin 10.67

More information

Units of Measure and Conversion Factors for Forest Products

Units of Measure and Conversion Factors for Forest Products Units of Measure and Conversion Factors for Forest Products Bulletin #7103 Knowledge of the common units of wood measurement is important to people who are involved in marketing forest products. These

More information

Log Supply and Price Adjustment Mechanisms in Industrialized Economies: Impacts on Small-scale Forest Farmers

Log Supply and Price Adjustment Mechanisms in Industrialized Economies: Impacts on Small-scale Forest Farmers Small-scale Forest Economics, Management and Policy, 2(1): 93-108, 2003 Log Supply and Price Adjustment Mechanisms in Industrialized Economies: Impacts on Small-scale Forest Farmers Michael J. Quayle 1

More information

Selling Timber Methods www.arkansastimber.info Teddy Reynolds, BSF, RF, SR

Selling Timber Methods www.arkansastimber.info Teddy Reynolds, BSF, RF, SR Selling Timber Methods www.arkansastimber.info Teddy Reynolds, BSF, RF, SR Timber sales are traditionally performed in the following two manners: 1) Lump Sum. 2) Pay-As-Cut. A comparison summary of the

More information

Precision Log-Making to Maximise Value Recovery from Plantation Forests

Precision Log-Making to Maximise Value Recovery from Plantation Forests Precision Log-Making to Maximise Value Recovery from Plantation Forests Kevin Boston, Carter, Holt, Harvey Forest Fibre Solutions Abstract Poor log-making is the leading cause for value lost. To improve

More information

What Do You See? FOR 274: Forest Measurements and Inventory. Logs and Scaling: Definitions. Tree and Wood Volume Log Volumes Cords Weight Scaling

What Do You See? FOR 274: Forest Measurements and Inventory. Logs and Scaling: Definitions. Tree and Wood Volume Log Volumes Cords Weight Scaling What Do You See? FOR 274: Forest Measurements and Inventory Tree and Wood Volume Log Volumes Cords Weight Scaling Logs and Scaling: Definitions Logs: cut trees lengths of 8ft or more The process of measuring

More information

Electricity network services. Long-term trends in prices and costs

Electricity network services. Long-term trends in prices and costs Electricity network services Long-term trends in prices and costs Contents Executive summary 3 Background 4 Trends in network prices and service 6 Trends in underlying network costs 11 Executive summary

More information

CCX Forestry Carbon Offset Programs

CCX Forestry Carbon Offset Programs CCX Forestry Carbon Offset Programs Status of the U.S. Carbon Market A developing, voluntary market No national, regulatory greenhouse gas reduction scheme YET! Many local, state, and regional systems

More information

GLOBAL LUMBER SOLUTIONS PLANTATION FIJI MAHOGANY GRADE DESCRIPTION

GLOBAL LUMBER SOLUTIONS PLANTATION FIJI MAHOGANY GRADE DESCRIPTION GLOBAL LUMBER SOLUTIONS PLANTATION FIJI MAHOGANY GRADE DESCRIPTION This grading guide has been produced as a brief, non-technical explanation, of the grades used by (GLSL). It is not a scientific reference

More information

Economic Parameters For Estimating the Delivered Wood Cost in the Deh Cho Planning Area

Economic Parameters For Estimating the Delivered Wood Cost in the Deh Cho Planning Area Economic Parameters For Estimating the Delivered Wood Cost in the Deh Cho Planning Area Submitted by: John O Brien, Associate Kelvin Mak, Senior Manager, Forest Industry Team Leader 500 West Tower, 14310-111

More information

How is carbon stored in trees and wood products?

How is carbon stored in trees and wood products? How is carbon stored in trees and wood products? Science S Theory Lesson Lesson information Level: Junior secondary school Year 10 Duration: Summary: Approximately 3 lessons Sustainably managed forests

More information

Comparison of Logging Residue from Lump Sum and Log Scale Timber Sales James O. Howard and Donald J. DeMars

Comparison of Logging Residue from Lump Sum and Log Scale Timber Sales James O. Howard and Donald J. DeMars United States Department of Agriculture Forest Service Pacific Northwest Forest and Range Experiment Station Research Paper PNW-337 May 1985 Comparison of Logging Residue from Lump Sum and Log Scale Timber

More information

Health expenditure Australia 2011 12: analysis by sector

Health expenditure Australia 2011 12: analysis by sector Health expenditure Australia 2011 12: analysis by sector HEALTH AND WELFARE EXPENDITURE SERIES No. 51 HEALTH AND WELFARE EXPENDITURE SERIES Number 51 Health expenditure Australia 2011 12: analysis by sector

More information

Are My. Pine Trees. Ready To Thin?

Are My. Pine Trees. Ready To Thin? Are My Pine Trees Ready To Thin? ARE MY PINE TREES READY TO THIN? One question private forest landowners ask most frequently is, Are my pine trees ready to thin? There is no definite answer to this question,

More information

Forestry Terms. Allowable cut The volume of wood that can be cut during a given period without exceeding the forest s net growth.

Forestry Terms. Allowable cut The volume of wood that can be cut during a given period without exceeding the forest s net growth. Forestry Terms Acre A land area of 43,560 square feet, approximately 209 ft. by 209 ft. Allowable cut The volume of wood that can be cut during a given period without exceeding the forest s net growth.

More information

THE NATURE OF THE WOOD PELLET SUPPLY TO THE UK

THE NATURE OF THE WOOD PELLET SUPPLY TO THE UK THE NATURE OF THE WOOD PELLET SUPPLY TO THE UK Carly Whittaker Rothamsted Research Torrefaction workshop 2 nd April 2014 University of Leeds Rothamsted Research MSc Forest Protection and conservation at

More information

Techniques for Measuring Stand Basal Area

Techniques for Measuring Stand Basal Area Private Native Forestry Code of Practice Guideline No. 5 Techniques for Measuring Stand Basal Area Introduction This document provides a guide to the measurement of stand basal area. The Private Native

More information

Forest Landowner s Guide to Field Grading Hardwood Trees Kyle Cunningham

Forest Landowner s Guide to Field Grading Hardwood Trees Kyle Cunningham DIVISION OF AGRICULTURE R E S E A R C H & E X T E N S I O N University of Arkansas System Agriculture and Natural Resources FSA5015 Forest Landowner s Guide to Field Grading Hardwood Trees Kyle Cunningham

More information

Chain of Custody of Forest Based Products - Requirements

Chain of Custody of Forest Based Products - Requirements PEFC INTERNATIONAL STANDARD Requirements for PEFC scheme users PEFC ST 2002:2013 2012-12-04 Enquiry Draft Chain of Custody of Forest Based Products - Requirements PEFC Council World Trade Center 1, 10

More information

Retail Operating Costs A REPORT PREPARED FOR THE ECONOMIC REGULATION AUTHORITY OF WESTERN AUSTRALIA. March 2012

Retail Operating Costs A REPORT PREPARED FOR THE ECONOMIC REGULATION AUTHORITY OF WESTERN AUSTRALIA. March 2012 Retail Operating Costs A REPORT PREPARED FOR THE ECONOMIC REGULATION AUTHORITY OF WESTERN AUSTRALIA March 2012 Frontier Economics Pty. Ltd., Australia. i Frontier Economics March 2012 Public Retail Operating

More information

Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry

Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry This paper examines some key financial aspects of the Australian vegetable industry as it relates to pricing and costs of

More information

Accounting News. AASB 7 More Financial Instrument Disclosures. In this issue. What About Comparatives? What About Parent Entity Disclosures?

Accounting News. AASB 7 More Financial Instrument Disclosures. In this issue. What About Comparatives? What About Parent Entity Disclosures? Accounting News A National Assurance Publication AASB 7 More Financial Instrument Disclosures AASB 7 Financial Instruments: Disclosures will require more disclosures about financial instruments for reporting

More information

Construction Contracts

Construction Contracts Compiled Accounting Standard AASB 111 Construction Contracts This compiled Standard applies to annual reporting periods beginning on or after 1 January 2009 that end on or after 30 June 2009. Early application

More information

2014 FIRST QUARTER RESULTS CONFERENCE CALL. May 15th, 2014

2014 FIRST QUARTER RESULTS CONFERENCE CALL. May 15th, 2014 2014 FIRST QUARTER RESULTS CONFERENCE CALL May 15th, 2014 DISCLAIMER This presentation has been prepared by Eurotech S.p.A.(or Eurotech ) and has to be read in conjunction with its oral presentation. The

More information

DIRECT CONSUMPTION OF PETROLEUM PRODUCTS IN PINUS RADIATA THINNING IN AUSTRALIA

DIRECT CONSUMPTION OF PETROLEUM PRODUCTS IN PINUS RADIATA THINNING IN AUSTRALIA 354 DIRECT CONSUMPTION OF PETROLEUM PRODUCTS IN PINUS RADIATA THINNING IN AUSTRALIA R. J. McCORMACK CSIRO Division of Forest Research, P.O. Box 4005, Canberra, A.C.T. 600, Australia and K. F. WELLS CSIRO

More information

Financial maturity is when the rate of value

Financial maturity is when the rate of value Cutting at Financial Maturity: Maximizing the economic return of your woodland Woodland owners harvest trees for financial and personal reasons. Deciding when is the optimal time to harvest is difficult

More information

Payroll Tax in the Costing of Government Services

Payroll Tax in the Costing of Government Services Payroll Tax in the Costing of Government Services Research Paper Steering Committee for the Review of Commonwealth/State Service Provision Commonwealth of Australia 1999 ISBN: 1 74037 006 6 This paper

More information

Australia s Electricity Generation Mix 1960-2009

Australia s Electricity Generation Mix 1960-2009 Australia s Electricity Generation Mix 1960-2009 A REPORT BY GREEN ENERGY MARKETS FOR ENVIRONMENT VICTORIA MAY 2011 1. Introduction Green Energy Markets Pty Ltd has been engaged by Environment Victoria

More information

ACADIAN TIMBER CORP. REPORTS FIRST QUARTER RESULTS

ACADIAN TIMBER CORP. REPORTS FIRST QUARTER RESULTS News Release Investors, analysts and other interested parties can access Acadian Timber Corp. s 2012 First Quarter Results conference call via webcast on Wednesday, May 2, 2012 at 1:00 p.m. ET at www.acadiantimber.com

More information

Guidelines for Minimum Standards Property Management Planning. Financial Management Module

Guidelines for Minimum Standards Property Management Planning. Financial Management Module Guidelines for Minimum Standards Property Management Planning Financial Management Module June 2011 June 2011 Acknowledgements All stakeholders who contributed to the development of the Financial Management

More information

Income Taxes. Compiled AASB Standard AASB 112

Income Taxes. Compiled AASB Standard AASB 112 Compiled AASB Standard AASB 112 Income Taxes This compiled Standard applies to annual reporting periods beginning on or after 1 July 2012 but before 1 January 2013. Early application is permitted. It incorporates

More information

LAB #12 Introduction to Forest Inventory Software

LAB #12 Introduction to Forest Inventory Software SUBJECT: LAB #12 Introduction to Forest Inventory Software Forest Inventory software programs simplify field data entry and data management, as well as allow users to efficiently derive summary volume

More information

What is it? How do you get it? Is it worthwhile?

What is it? How do you get it? Is it worthwhile? Chain of custody certification What is it? How do you get it? Is it worthwhile? Hamish Crawford Cailum Pty Ltd Presentation ti to: Carter Holt Harvey Sales & Marketing Meeting Melbourne, 16 April 2008

More information

INTERNAL AUDIT SERVICES Glenorchy City Council Internal audit report of Derwent Entertainment Centre financial business and operating systems

INTERNAL AUDIT SERVICES Glenorchy City Council Internal audit report of Derwent Entertainment Centre financial business and operating systems INTERNAL AUDIT SERVICES Internal audit report of Derwent Entertainment Centre financial business and operating systems ADVISORY Contents Executive summary...2 Internal audit findings...4 Summary of other

More information

The impact of LNG exposure on Australia s eastern gas market. Ross Lambie, LNG18

The impact of LNG exposure on Australia s eastern gas market. Ross Lambie, LNG18 The impact of LNG exposure on Australia s eastern gas market Ross Lambie, LNG18 April 2016 The impact of LNG exposure on Australia s eastern gas market Ross Lambie 13 April 2016, LNG18 Thank you to the

More information

Expert witness statement of Mr Andrew Robert de Fégely Expert of Gunns Limited

Expert witness statement of Mr Andrew Robert de Fégely Expert of Gunns Limited Expert witness statement of Mr Andrew Robert de Fégely Expert of Gunns Limited In the matter of the Bell Bay Pulp Mill Project: A Project of State Significance Resource Planning and Development Commission

More information

Chapter 3. Stacked Roundwood, Preservative-Treated Products, and Construction Logs

Chapter 3. Stacked Roundwood, Preservative-Treated Products, and Construction Logs 1 Chapter 3. Stacked Roundwood, Preservative-Treated Products, and Construction Logs Stacked Roundwood 38 Cord Measure 38 Standard rough cord Long cord The unit Face cord Volume of solid wood in a cord

More information

Life Insurance Contracts

Life Insurance Contracts Compiled AASB Standard AASB 1038 Life Insurance Contracts This compiled Standard applies to annual reporting periods beginning on or after 1 January 2011 but before 1 January 2013. Early application is

More information

6. Ensuring outcomes 6.1 Auditing of forestry operations

6. Ensuring outcomes 6.1 Auditing of forestry operations 6 Ensuring outcomes 6. Ensuring outcomes 6.1 Auditing of forestry operations An audit is a planned activity involving staff from DECCW and the landholder or their representative. The landowner can request

More information

RESEARCH NOTE 2012-1. A Note on Managing Currency Risks in an International Timberland Investment Portfolio. (Clark S. Binkley - 22 October 2012)

RESEARCH NOTE 2012-1. A Note on Managing Currency Risks in an International Timberland Investment Portfolio. (Clark S. Binkley - 22 October 2012) RESEARCH NOTE 2012-1 A Note on Managing Currency Risks in an International Timberland Investment Portfolio (Clark S. Binkley - 22 October 2012) GreenWood Resources Research Note 2012-1 A Note on Managing

More information

Accounting news. IFRIC Interpretation 15 Agreements for the Construction of. Real Estate. In this issue IFRIC Interpretation 16

Accounting news. IFRIC Interpretation 15 Agreements for the Construction of. Real Estate. In this issue IFRIC Interpretation 16 Accounting news A national Audit & Assurance publication Included in this issue is an in depth discussion of IFRIC Interpretation 15: Agreements for the Construction of Real Estate. This interpretation

More information

Deforestation Survey 2012

Deforestation Survey 2012 Deforestation Survey 2012 MPI Technical Paper No: 2013/02 Dr Bruce Manley NZ School of Forestry University of Canterbury ISBN No: 978-0-478-40554-5 (print) ISBN No. 978-0-478-40555-2 (online) ISSN 2253-3915

More information

2015 FIRST HALF RESULTS CONFERENCE CALL. August 31st, 2015

2015 FIRST HALF RESULTS CONFERENCE CALL. August 31st, 2015 2015 FIRST HALF RESULTS CONFERENCE CALL August 31st, 2015 DISCLAIMER This presentation has been prepared by Eurotech S.p.A.(or Eurotech ) and has to be read in conjunction with its oral presentation. The

More information

corporate presentation santander 15th annual latin american ceo conference cancun January 2011

corporate presentation santander 15th annual latin american ceo conference cancun January 2011 corporate presentation santander 15th annual latin american ceo conference cancun January 2011 disclaimer This presentation may contain projections or other forward-looking statements related to masisa

More information

Review of PIRSA s Cost Recovery Policy and practices, including their application to the Fisheries and Aquaculture Industries Primary Industries and

Review of PIRSA s Cost Recovery Policy and practices, including their application to the Fisheries and Aquaculture Industries Primary Industries and Review of PIRSA s Cost Recovery Policy and practices, including their application to the Fisheries and Aquaculture Industries Primary Industries and Regions SA 29 July 2015 Contents Executive Summary...

More information

Tabcorp Holdings Limited 2011/12

Tabcorp Holdings Limited 2011/12 Tabcorp Holdings Limited ABN 66 063 780 709 2011/12 Full Year Results Presentation 9 August 2012 A successful year Strong EBIT growth in challenging market conditions Key FY12 outcomes Completed demerger

More information

APES 315 Compilation of Financial Information

APES 315 Compilation of Financial Information APES 315 Compilation of Financial Information [Supersedes APES 315 Compilation of Financial Information issued in November 2009] Prepared and issued by Accounting Professional & Ethical Standards Board

More information

ACADIAN TIMBER CORP. REPORTS FOURTH QUARTER AND YEAR-END RESULTS

ACADIAN TIMBER CORP. REPORTS FOURTH QUARTER AND YEAR-END RESULTS News Release Investors, analysts and other interested parties can access Acadian Timber Corp. s 2015 Fourth Quarter Results conference call via webcast on Thursday, February 11, 2016 at 1:00 p.m. ET at

More information

Life Insurance Contracts

Life Insurance Contracts Compiled Accounting Standard AASB 1038 Life Insurance Contracts This compilation was prepared on 23 September taking into account amendments made up to and including 15 September 2005. Prepared by the

More information

pwc.com.au NT WorkSafe Actuarial review of Northern Territory workers compensation scheme as at June 2014

pwc.com.au NT WorkSafe Actuarial review of Northern Territory workers compensation scheme as at June 2014 pwc.com.au NT WorkSafe Actuarial review of Northern Territory workers compensation scheme as at June 2014 30 June 2013 Key findings Funding ratio The following table shows the funding ratio for the scheme

More information

Guide to managing commodity risk

Guide to managing commodity risk Guide to managing commodity risk October 2012 ISBN: 978-1-921742-33-0 CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies representing more than 139,000 members of the financial,

More information

MACQUARIE EUCALYPT PROJECT 2004 ARSN 107 510565 ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2011

MACQUARIE EUCALYPT PROJECT 2004 ARSN 107 510565 ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2011 MACQUARIE EUCALYPT PROJECT 2004 ARSN 107 510565 ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2011 omacquarie Annual Report Contents Directors' Report 2 Auditor's Independence Declaration 5 Statement

More information

FINANCIAL SUPPORT PROGRAMS

FINANCIAL SUPPORT PROGRAMS 9 FINANCIAL SUPPORT PROGRAMS 108 9 FINANCIAL SUPPORT PROGRAMS 9 FINANCIAL SUPPORT PROGRAMS There are a number of Government support mechanisms to help reduce the barriers to undertaking action on energy

More information

Accounting news. IFRS 3 revised! Special Edition. A national Audit & Assurance publication March 2008

Accounting news. IFRS 3 revised! Special Edition. A national Audit & Assurance publication March 2008 Accounting news Special Edition A national Audit & Assurance publication March 2008 IFRS 3 revised! Just as people are starting to become comfortable with IFRS (or at least less uncomfortable) and have

More information

TABCORP HALF YEAR RESULTS PRESENTATION

TABCORP HALF YEAR RESULTS PRESENTATION Tabcorp Holdings Limited ACN 063 780 709 5 Bowen Crescent Melbourne Australia 3004 GPO Box 1943 Melbourne Australia 3001 Telephone 61 3 9868 2100 Facsimile 61 3 9868 2300 Website www.tabcorp.com.au 4 February

More information

Timber Solid Stress-graded for structural purposes

Timber Solid Stress-graded for structural purposes AS/NZS 1748.2:2011 Incorporating Amendment No. 1 Australian/New Zealand Standard Timber Solid Stress-graded for structural purposes Part 2: Qualification of grading methods AS/NZS 1748.2:2011 AS/NZS 1748.2:2011

More information

Contact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com.

Contact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com. Contact us Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au www.kpmg.com.au No reliance This report should not be regarded as suitable

More information

Deforestation Survey 2014

Deforestation Survey 2014 Deforestation Survey 2014 MPI Technical Paper 2015/05 Prepared for the Ministry for Primary Industries by Professor Bruce Manley NZ School of Forestry University of Canterbury ISBN No.: 978-0-477-10571-2

More information

ATSB RESEARCH AND ANALYSIS REPORT ROAD SAFETY. Characteristics of Fatal Road Crashes During National Holiday Periods

ATSB RESEARCH AND ANALYSIS REPORT ROAD SAFETY. Characteristics of Fatal Road Crashes During National Holiday Periods ATSB RESEARCH AND ANALYSIS REPORT ROAD SAFETY Characteristics of Fatal Road Crashes During National Holiday Periods July 2006 ATSB RESEARCH AND ANALYSIS REPORT ROAD SAFETY Characteristics of Fatal Road

More information

2. The costs of natural disasters

2. The costs of natural disasters 2. The costs of natural disasters Key Points Without action, the forecast annual cost in real terms of natural disasters (across government, business and communities) in Australia is expected to reach

More information

Export & import possibilities and fuel prices

Export & import possibilities and fuel prices AFB-net V Targeted actions in bioenergy network Export & import possibilities and fuel prices Task 2 Country report of IRELAND CONTENTS 1 INTRODUCTION...3 2 BIOMASS RESOURCES...4 3 CURRENT ENERGY USE OF

More information

Proposed Transfer of the Life Insurance Business of BT Life Limited to Westpac Life Insurance Services Limited

Proposed Transfer of the Life Insurance Business of BT Life Limited to Westpac Life Insurance Services Limited KPMG Actuarial Pty Ltd ABN: 91 144 686 046 Australian Financial Services Licence No. 392050 Telephone: +61 2 9335 7000 10 Shelley Street Facsimile: +61 2 9335 7001 Sydney NSW 2000 DX: 1056 Sydney www.kpmg.com.au

More information

Foreign Currency Translation

Foreign Currency Translation Statement of Accounting Standards Foreign Currency Translation Prepared by the Accounting Standards Board and the Public Sector Accounting Standards Board of the Australian Accounting Research Foundation

More information

Wood Properties Technology

Wood Properties Technology Wood Properties Technology T Practical Lesson Activity information Level: Junior secondary school Years 7 10 Duration: Preparation: Summary: Approximately 2 lessons Collect two samples of timber Students

More information

Statistics. Quarterly Superannuation Performance (interim edition) June 2014 (issued 21 August 2014)

Statistics. Quarterly Superannuation Performance (interim edition) June 2014 (issued 21 August 2014) Statistics Quarterly Superannuation Performance (interim edition) June 2014 (issued 21 August 2014) www.apra.gov.au Australian Prudential Regulation Authority Copyright Australian Prudential Regulation

More information

The Impact of the Carbon Pricing Mechanism on Golf Club Operations

The Impact of the Carbon Pricing Mechanism on Golf Club Operations May 2012-1- 1. Overview On 8 November 2011, the Australian Parliament passed laws to put a price on carbon emissions which will come into effect from 1 July 2012. The carbon pricing mechanism, or carbon

More information

Protected trees. A guide to tree preservation procedures

Protected trees. A guide to tree preservation procedures Protected trees A guide to tree preservation procedures Protected trees A guide to tree preservation procedures April 2012 Department for Communities and Local Government Crown copyright, 2012 Copyright

More information

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND OR JAPAN

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND OR JAPAN 17 December 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND OR JAPAN POWERFLUTE OYJ ACQUISITION AND PLACING Introduction

More information

Business Combinations

Business Combinations Compiled Accounting Standard AASB 3 Business Combinations This compilation was prepared on 6 March 2006 taking into account amendments made up to and including 22 June 2005. Prepared by the staff of the

More information

LEROY MERLÍN FUNDACIÓN JUAN XXIII-IBERMAIL. A Study of Forest Biomass Sustainability SHOUF BIOSPHERE RESERVE, LEBANON THERMAL BIOMASS PROJECT 2013

LEROY MERLÍN FUNDACIÓN JUAN XXIII-IBERMAIL. A Study of Forest Biomass Sustainability SHOUF BIOSPHERE RESERVE, LEBANON THERMAL BIOMASS PROJECT 2013 December 203 SHOUF BIOSPHERE RESERVE, LEBANON THERMAL BIOMASS PROJECT 203 A Study of Forest Biomass Sustainability GRUPO SYLVESTRIS SL CL Asura 34 bis Madrid 28043. SPAIN. Tel.: +34 609 04 42 6 Tel.:+34

More information

An Overview of the Lumber Industry in Canada, 2004 to 2010

An Overview of the Lumber Industry in Canada, 2004 to 2010 Catalogue no. 11-621-M, no. 89 ISSN 1707-0503 ISBN 978-1-100-19666-4..Analytical Paper... Analysis in Brief An Overview of the Lumber Industry in Canada, 2004 to 2010 by Benoit Germain Manufacturing and

More information

Key Global Drivers & Impacts on the US Market: Basis of a Super-Cycle

Key Global Drivers & Impacts on the US Market: Basis of a Super-Cycle Key Global Drivers & Impacts on the US Market: Basis of a Super-Cycle Maritime Lumber Bureau Charlottetown, PEI June 6 2013 By: Russell Taylor, President 2a Introduction to: International WOOD MARKETS

More information

Analysis of through-chain pricing of food products (Summary version) Freshlogic 24 August 2012

Analysis of through-chain pricing of food products (Summary version) Freshlogic 24 August 2012 Analysis of through-chain pricing of food products (Summary version) Freshlogic August 0 Introduction Objective This document has been prepared by Freshlogic as an internal briefing paper for Coles on

More information

Australian Industry Timber Due Diligence. Guidance and Tools. Stephen Mitchell Sustainability Programme Manager stephen.mitchell@tdansw.asn.

Australian Industry Timber Due Diligence. Guidance and Tools. Stephen Mitchell Sustainability Programme Manager stephen.mitchell@tdansw.asn. Australian Industry Timber Due Diligence Guidance and Tools Stephen Mitchell Sustainability Programme Manager stephen.mitchell@tdansw.asn.au 1 Illegal Logging Undercuts legitimate trade Contributes to

More information

CROSS RELEASE PXUPA ASX RELEASE

CROSS RELEASE PXUPA ASX RELEASE CROSS RELEASE PXUPA ASX RELEASE 19 August 2010 PaperlinX Limited ABN 70 005 146 350 307 Ferntree Gully Road Mt Waverley Victoria 3149 Australia Tel: +61 3 8540 2211 Fax: +61 3 8540 2255 PAPERLINX 2010

More information

Guide to Selling Your Timber ONCE YOU READ THIS GUIDE, YOU WILL KNOW: What to do if someone offers to buy your timber. How to get help in selling your timber. When trees are ready to sell. Why a contract

More information

Letter of Engagement. Peter Vickers and Associates Pty Ltd Chartered Accountants ACN 003 466 813

Letter of Engagement. Peter Vickers and Associates Pty Ltd Chartered Accountants ACN 003 466 813 6 September 2013 Suite 2, 345 Pacific Highway Lindfield NSW 2070 t: (61-2) 9416 9266 f: (61-2) 9416 9149 e: services@pva.com.au www.vickersgroup.com.au Ms M Client Sydney Street NSW 2086 Dear Michele,

More information

Consolidated and Separate Financial Statements

Consolidated and Separate Financial Statements Compiled Accounting Standard AASB 127 Consolidated and Separate Financial Statements This compiled Standard applies to annual reporting periods beginning on or after 1 July 2007. Early application is permitted.

More information

1. Details of reporting period Half year ended 31 December 2011. 2.1 Revenue from ordinary activities Down 0.15% to $639.5 million

1. Details of reporting period Half year ended 31 December 2011. 2.1 Revenue from ordinary activities Down 0.15% to $639.5 million 21 February 2012 The Manager Company Announcements Office 10th Floor 20 Bond Street SYDNEY NSW 2001 Dear Sir, Results for announcement to the market Watpac Limited 31 December 2011 Appendix 4D 1. Details

More information

Chapter 7. Chips, Sawdust, Planer Shavings, Bark, and Hog Fuel

Chapter 7. Chips, Sawdust, Planer Shavings, Bark, and Hog Fuel Chapter 7. Chips, Sawdust, Planer Shavings, Bark, and Hog Fuel Expansion Factors, Relative Solid Volume, and Compaction 84 Expansion (Fluffing) Factor 84 Loose expansion factor Compacted expansion factor

More information

Rice flower information kit

Rice flower information kit Rice flower information kit Reprint information current in 1997 REPRINT INFORMATION PLEASE READ! For updated information please call 13 25 23 or visit the website www.deedi.qld.gov.au This publication

More information

Adelaide Brighton Ltd Morgan Stanley Emerging Companies Conference 14 June 1012. Presented by: Mark Chellew Managing Director & CEO.

Adelaide Brighton Ltd Morgan Stanley Emerging Companies Conference 14 June 1012. Presented by: Mark Chellew Managing Director & CEO. Adelaide Brighton Ltd Morgan Stanley Emerging Companies Conference 14 June 1012 Presented by: Mark Chellew Managing Director & CEO Disclaimer The following presentation has been prepared by Adelaide Brighton

More information

AER reference: 52454; D14/54321 ACCC_09/14_865

AER reference: 52454; D14/54321 ACCC_09/14_865 Commonwealth of Australia 2014 This work is copyright. In addition to any use permitted under the Copyright Act 1968, all material contained within this work is provided under a Creative Commons Attribution

More information

2011 Global Forest Products Facts and Figures

2011 Global Forest Products Facts and Figures 211 Global Forest Products Facts and Figures FAO s forest product statistics present figures for the production and trade (quantity and value) of forest products, covering 52 product categories, 21 product

More information

Insurance Commission of Western Australia

Insurance Commission of Western Australia Summarised Version March 2014 1. Executive summary 1.1 Background As part of the routine internal audit program, ICWA has requested Ernst & Young (EY) to undertake a claims management review of RiskCover

More information

FIJI. MINISTRY OF FISHERIES AND FORESTS and FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS

FIJI. MINISTRY OF FISHERIES AND FORESTS and FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS FIJI MINISTRY OF FISHERIES AND FORESTS and FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS A REVIEW OF THE FOREST REVENUE SYSTEM AND TAXATION OF THE FORESTRY SECTOR IN FIJI by Adrian Whiteman,

More information

Biomass availability and supply for co-firing projects in Alberta. Dominik Roser, Ph.D.

Biomass availability and supply for co-firing projects in Alberta. Dominik Roser, Ph.D. Biomass availability and supply for co-firing projects in Alberta Dominik Roser, Ph.D. About FPInnovations A private non-profit Canadian corporation Supports competitiveness of the Canadian forest sector

More information

LUMBER & CHIP SALES (AMV) MONTHLY REPORT INSTRUCTIONS

LUMBER & CHIP SALES (AMV) MONTHLY REPORT INSTRUCTIONS Monthly reports are to be submitted by the 20th day of the following month. Excel Program CLS Lumber If you are using the Excel program, please note that it is already formatted. All you need to do is

More information