SANTIAGO, Dec 29 (Reuters) - Chile’s forestry exports are expected to have totaled $5.5 billion in 2015, down 9 percent from last year, as long fiber wood pulp prices and export volumes fell, the Chilean forestry industry group CORMA said on Tuesday.
It expects forestry exports of around $5.5 billion for 2016 as well.
Wood pulp prices and export volumes slipped on the back of slowing demand from key consumer China, Corma said.
Meanwhile, a sharp currency depreciation in Russia, one of the largest suppliers of wood pulp to China, has made Russian pulp products cheaper and more competitive, Corma added.
The industry group had previously forecast forestry exports of around $6 billion for 2015.
The wood and pulp industry is one of Chile’s most important after copper. Leading Chilean forestry firms include Copec’s Arauco, CMPC, and Masisa. (Reporting by Anthony Esposito; Editing by David Gregorio)