HONG KONG, Nov. 15, 2021 /PRNewswire/ — Agroforestry Group today reported that it has expanded the scope of its Aquilaria (agarwood) research and development efforts to include different species beyond the previous focus on Aquilaria Sinensis and Aquilaria Crassna.
"We are always looking for ways to innovate, particularly when it comes to improving the yields and quality of our harvests. Expanding our R&D into other Aquilaria species increases our knowledge base while giving us the opportunity to discover productivity breakthroughs" said Mr. Paul Martin, Agroforestry Group’s MD.
Mr. Paul Martin added, "Aquilaria which is native to Southeast Asia contains 21 different species of trees, of which Malaccensis, Sinensis and Crassna are the most commonly grown." Agroforestry Group’s R&D into different species is being conducted near its existing Aquilaria plantations in Kulai, Johor in Malaysia.
Aquilaria is the scientific name of what many commonly refer to as the agarwood tree. Agarwood is the fragrant dark resinous part of the Aquilaria tree which today has become one of the rarest and most valuable commodities in the world. Agarwood which naturally occurs in less than 2% of Aquilaria trees in the wild has been sold for as much as 50,000-100,000 USD/KG.
Due to high agarwood demand, Aquilaria trees today are nearly extinct, listed by the United Nations on its critically endangered list. The resinous fragrant heartwood within the Aquilaria trees called agarwood is highly prized and predominantly used in the manufacturing of luxury fragrances, incense, and medicine. Demand however has risen tremendously this past decade which has led to the creation of new products including cosmetics such as makeup, skincare, hair and body products, diffusers, candles and more.
About Agroforestry Group
Established in 2015, Agroforestry Group have applied their thirty years of private forestry management into the establishment and commercial development of durian and agarwood plantations and product distribution and sales. As an asset class, agriculture and forestry has expanded rapidly over the last decade due to interest from risk-averse private investors attracted by the green credentials of the industry and the long-term high returns of agroforestry.
SOURCE Agroforestry Group