A report released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) states log harvests exceeded 30 million cubic metres for the first time in 2015–16, valued at over $2.3 billion.

ABARES acting executive director Peter Gooday said growth had been underpinned by continued strong export demand, especially for hardwood and softwood woodchips and roundwood logs.

The report is good news for Eden, with Allied Natural Wood Exports stating hardwood and softwood plantation developments as key strategies for the future, as well as new wood processing technology and innovation.

Assistant Minister for Agriculture and Water Resources, Anne Ruston, said the Government was committed to supporting the forestry sector into the future.

“The Australian Government remains committed to creating a stable and sustainable business environment that encourages innovation and investment in the future of the forestry sector,” Minister Ruston said.

“Australian timber is building its reputation as a world class product and this most recent growth is a reflection of strong demand.

“Responsibly-sourced wood is renewable, it stores carbon, it’s beautiful and sustainably-managed forests can provide resources for both today and the future.”

The report, Australian forest and wood products statistics: September and December quarters 2016, showed the volume and value of logs harvested in 2015-16 had outstripped previous years.

Consumption of wood products was higher across most categories, with hardwood sawnwood consumption up 37 per cent over the year, wood-based panels up 5.3 per cent and aggregate paper consumption up 1.8 per cent.

Despite the positive data, the report also showed overall import values had declined by 6.4 per cent compared to the first six months of 2015–16, suggesting a potential softening of domestic demand for some products in the first half of 2016–17.