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Gunns Ltd (ASX:GNS) has lowered its full year earnings before interest and tax guidance, attributing the downgrade to a strong Aussie dollar and the new Tasmanian forest agreement.

In the 2011 fiscal year the forest management company says it now anticipates earnings before interest and tax to fall between $40 million to $50 million.

This compared with the guidance of $50 million to $60 million flagged in August.

Gunns says the strength of the Aussie dollar versus the US dollar has significantly impacted the competitiveness of hardwood chip exports into its key markets of China and Japan, with Japanese demand remaining particularly depressed.

Gunns says it does not expect any currency relief in its current financial year and has so adjusted its forecast accordingly.

Gunns posted a $28.49 million profit in the 2010 financial year.