The Middle Easterners use it for perfumes, and the Chinese prize it for its health qualities. Demand from these two sectors and others is driving the already huge market for agarwood – the world’s most expensive wood, which has long been used for holistic health and wellness.
But although the demand is there, the supply has been sketchy. For one Singapore company, this means it’s an economic opportunity to create a better-managed agarwood industry, utilising modern agriculture technology and management, and to create an even wider range of agarwood-based products.
One Plantation Capital Pte Ltd (OPC) wants to be a vertical provider of agarwood – from the trees to the final lifestyle and wellness products – and to use its business as a social change opportunity for local communities.
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Source: The Business Times, 01 October 2016