North American and Asian timber exporters could be set for increased volumes and selling prices to Japan in the wake of last week’s devastating earthquake and tsunami.

Shares in leading North American lumber producers, including Weyerhaeuser and Interfor, rose sharply as markets predicted large-scale rebuilding work and industry commentators speculated on the benefits for international timber traders.

Timber frame houses are common in Japan for their earthquake-resistant properties, though evidently could not provide much protection against the power of last week’s tsunami.

Malaysia is currently the largest exporter of timber to Japan.

At the tail end of 2010, British Columbia’s lumber exports to China and Japan were accounting for more than 40% of the province’s total lumber export volume.