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GENERAL INFORMATION - Agarwood (Aquilaria crassna)
Agarwood, also known as Wood of the Gods, is a highly valuable wood with oleoresin, seen as irregular dark patches formed inside old trees of genera Aquilaria, within the family Thymelaeaceae. Other common names for Agarwood include eaglewood, aloeswood and gaharu.
Only less than 8% of trees produce the
valuable
Agarwood in nature. The locals cut down Agarwood trees indiscriminatively in search of the valuable fragrant producing resin.
As a result, there are fewer of these trees left in the world. Since
high quality Agarwood takes a long time to form naturally and only a
small percentage of trees produce them naturally, it follows that the
demand far exceeds the supply.
Since ancient time, Agarwood was regarded as a highly valued wood, only the kings and royalties are able to enjoy this precious aromatic wood. It was also used as diplomatic gifts among nations. Agarwood has been used in medicine, perfume, and as incense in Buddhist, Muslims and Hindus religious ceremonies. Its therapeutic property is used as an ingredient in medicine for treating pleurisy, asthma, rheumatism and jaundice. It is also known to be beneficial to the liver, lungs and stomach. Other products include sculptures, beads, boxes, perfume, soaps, shampoos and essential oils. International trading of agarwood is not limited to finished products. Trading also takes place in the form of powder, oil, wood and wood chips.
For global trade of agarwood, Taiwan is the most important final destination market (www.TRAFFIC.org), followed by United Arab Emirates, Saudi Arabia and Japan. Japan alone has been importing on average 29,433 kg per year, with an average purchase price of USD187/kg. (Source: Ministry of Finance, Customs Statistics, 1991-98, exchange rate: USD1 = JPY131.2)
Many foresters and investors have expressed interest in growing Agarwood. However, the demands still highly exceed the supply. This gap will not be resolved in the near future. There is a great opportunity in Agarwood Plantations Investment.
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