Timber prices in Estonia have reached to unprecedented levels. Pine and spruce are particularly affected, as speculators hold on to stock and confusion over felling rights continues.  Prices may start to come down again later in the year, but at the moment the issue is mainly one of supply falling far behind demand.  One Estonian forestry expert, Heiki Hepner, said the short supply is likely the result of a hiatus in felling in spring, partly due to environmental considerations, which in turn, together with an overall ambiguous situation, spooked private forest owners to the extent that ...