The total value of orders for timber processing enterprises has reached almost US$3 billion for 2010, an increase of US$320 million from 2009, said Nguyen Ton Quyen, Secretary General of the Vietnam Timber and Forest Product Association.
For the first five months of 2010, the revenue from timber exports is estimated at US$1.4 billion, up 35 percent from the same period last year.

Mr Quyen attributed this surge to a growing demand in traditional markets, especially the US, Japan, and China. In the first quarter of the year, many enterprises signed contracts and made orders for the period from now until the end of 2010. Meanwhile, this year’s selling prices have risen by 3 percent against 2009.

Mr Quyen said there was a slight increase in the cost of imported timber but most enterprises had stockpiled materials at the beginning of the year to minimize the impacts of such an increase.