Reduced log imports from Russia to China saw prices hit a record high in the Asian market during the third quarter of this year, figures show.
Data released by Wood Resources International show that production of most wood products in China is also up on 2007 levels, creating further upwards pressure on prices.
Imports of softwood logs to the nation have fallen for the past three quarters and hit 4.4 million cubic metres in the three months to October.
Hakan Ekstrom, spokesperson for Wood Resources International, said: "It is still too early to know the full impact of the global financial crisis on log demand and
prices in China."
However, there were indications that demand for forest products started to fall in December, he added.
It also remains to be seen what impact the delayed tax increase on Russian log exports will have on the flow of wood into China, Mr Ekstrom stated.
Recently, Estonian forestry minister Urmas Paet told AFP that Russian membership of the World Trade Organisation would boost the Baltic nation's forestry industry as it would mean an end to the "discriminative" tax on timber exports currently imposed.
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