8 INTEGRATED ANNUAL REPORT 2022 the south. We continue to strive for a healthy balance between export and domestic markets. NCT functions optimally at two million tonnes throughput per annum and we need to maintain this momentum going forward. The prognosis for the year ahead is positive and we are confident of achieving similar volumes with the current GST fully subscribed to market. We must ensure that we remain sustainable, especially with our strategically important Acacia volumes, to be able to continue servicing our hard-won markets. All our members need to continue to play their part along the value chain to assist NCT in achieving its sustainability goals. Together we can take control over this. We have little control over factors like the exchange rate with NCT continuously having to adapt and be flexible. A key challenge now emerging, of major concern to us, is the whole logistics chain. State-owned rail transport and port service authorities seem incapable of delivering an effective and efficient service and, of course, these entities are key to our operations. The effect of the Covid-19 pandemic on our business is gradually becoming less of an issue. New potentially far-reaching challenges (let alone the war in Europe) could, however, possibly impact on our business far Chairman’s Report By the time this annual report is published, we will be well into our third year of Covid-19 restrictions. Our world changed dramatically given this pandemic and yet we adapted. The wearing of masks, hand sanitising and social distancing have become second nature to most of us. However, just as we became used to these new norms, we have been shocked once again, with the war in Europe. We referred to the Covid pandemic as a single “Black Swan” event but it now appears as if such unanticipated and disruptive events may well be about to occur in flocks! At NCT we adjusted quickly and definitively and will no doubt have to re-adapt again to remain relevant for our members. Despite the dynamics, NCT was able to market more than two million tonnes of timber on behalf of its members, a level of sales last seen in 2007. Acacia exports reached their highest level over the past year and we managed to successfully market all of members’ committed guaranteed supply tonnage (GST), and more. We have secured China as an anchor customer for our wood chips, and our longstanding Japanese customers have also returned to pre-pandemic volumes. Our domestic sales have rebounded too, proving especially vital for our Eucalyptus growers particularly in P H I L I P DAY
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