Forestry exports are returning higher profits but there is scepticism in the industry about whether current values will continue.

The average wharf gate price for A-grade New Zealand logs has increased to $120 a tonne.

Inventory levels on Chinese ports remain moderate, with China New Zealand's largest forestry export market.

Some in the industry believe its stability will continue, but others are more pessimistic and think current returns are too high to be maintained in the long run.

Domestically prices have lifted for both pruned and structural logs, as demand's exceeding supply thanks to the building boom in Auckland and Christchurch.