May 31, 2004. /Lesprom Network/. Timber prices in the regions with the highest consumer rates have been on the rise since 2003 and are still improving in 2004, according to the research published by RISI. The improvement of final product prices in North America together with the devaluation of USD were the basic factors that kept timber prices high, according the World Timber Price Quality research. Sawn timber markets were favored by strong construction market positions and the growth of softwood sawn timber and veneer prices. Asian markets demonstrated steady sawn timber and veneer prices growth, while high ocean transport prices boosted the prices of the timber exported to Japan, China and South Korea. Pulpwood markets improved generally due to the general consolidation of the US and Asian economies, that boosted world pulp and paper demand. In 2004 the increasing world economic growth will provide wide basis for the improvement of timber industries worldwide. Therefore timber markets are likely to consolidate in the main timber-producing regions, RISI forecast says. US sawmills increased production and saw logs consumption in response to the significant growth of sawn timber and veneer markets in 2003-2004. In the 4th quarter sawn timber prices increased both on the West coast and on the South of the USA, while pine sawn timber prices are on the maximum level during the recent 2 years. European sawn timber prices in USD increased while the price in national currencies remain low, and are affected by the decline in sawn timber and panels consumption. US pulpwood markets are increasing, a set of dry weather in the south resulted in the timber felling increase, and the enterprises increased pulp stores. Hardwood pulp markets witnessed a price correction in the 4th quarter in 2003 with the prices declining by 3%. Meanwhile softwood pulpwood prices in the South were maintained by the increase of demand from OSB-producers, as well as by a slight increase of the pulp enterprises located in the region. In Japan saw logs and chips prices in USD increased 10% together with the interior hardwood pulpwood prices in the 4th quarter in 2004. Softwood pulpwood price growth was a bit more moderate. According to RISI in 2004 North-American, Asian and South-American pulpwood markets will keep firm positions, world pulp production will increase 3% in 2004 and pulp prices will reflect the improvement of the markets.