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Malaysia: prices drop as construction sectors weaken
Prices of Malaysian timber products declined as the
various construction and housing sectors in the US and
Europe continued to weaken. The strength of the US dollar
against other major currencies also led to the lowering of
Malaysian timber prices.
Timber businesses are optimistic that demand in Eastern
Europe and the Middle-East markets will help to cushion
the fall in prices. Prices of wooden furniture and plywood
are expected to see marginal declines. A cooling trend in
China’s real estate market is expected to spill into early
2009.
