The International Tropical Timber Organisation (lITO) says that teak is the only species for which log prices rose In Asia through 2000-2001, as the demand for furniture and other joinery products made from this species remained firm in European, Japanese and Thai markets.

It also said that China at 6.1 million cubic meters (42% of all consumer country log imports) remained the world's largest importer of tropical . logs in 2000 after overtaking Japan in 1999. China's imports jumped J 27% from 1999 levels.

Tropical hardwood log imports by the International Tropical Timber Organisation (lITO) consumer countries rose by 9.2% in 2000, to 14.4 million cubic meters. If imports by producing members are taken into account, total 2000 tropical log Imports by lITO members were almost 18.1 million cubic meters, 10% more than in 1999

Myanmar (former Burma) currently produces 80% of the worlds teak supply. The NATIONAL GEOGRAPHIC SOCIETY estimates that the last teak forest in Myanmar will be logged in a few years. Also, countries around the world, driven by environmental concerns are banning the importation of tropical hardwoods, including teak unless they come from sustainable yield sources.

Thailand once had 100 million rai (6.25 rai = one hectare) of natural teak forests. Today, natural teak forests basically no longer exist anywhere in the world.

Some countries in Africa and Asia have teak plantations but the political turmoil and conflict in these countries make long-term investment very hazardous.

Panama is one of very few countries that has opened the timber industry for private sector development with a combination of government incentives.