December 17, 2016

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MAEA to build agarwood market

Workers artificially inoculate the tree to produce Agarwood in Myanmar with the ues of “Allergic Stress Strain(Ass)”. Photo: Supplied
Workers artificially inoculate the tree to produce Agarwood in Myanmar with the ues of “Allergic Stress Strain(Ass)”. Photo: Supplied

THE Myanmar Agarwood Entrepreneurs’ Association is planning to build an agarwood market, according to the association.
U ThaungNyunt, the Secretary of the association confirmed the plan, but he has not yet confirmed the location of the market or whether it would be in Mandalay or Yangon.
“The move is aimed at supplying agarwood and related things under one roof,” he said.
Meanwhile, the association has planned to provide plants and technology to farmers growing agarwood trees as part of its effort to fight poverty in the country.
The plan targeting those who have no capital to grow the plants would start in June and July [2016] in Yangon and Bago regions.
According to the MAEA, the quality of Myanmar’s agarwood is higher than it is in other countries.
Singapore, Taiwan, Japan, Thailand and China are the main importers of agarwood from Myanmar. According to agarwood farmers in Myanmar, one kilo of first-grade agarwood can fetch between US$4,000 and $20,000.
Since 1995, Aquilariamalaccensis, the primary source of agarwood, has been listed among potentially threatened species by the Convention on International Trade in Endangered Species of Wild Fauna and Flora.
Myanmar has banned illegal trading on agarwood since 1947.
The Ministry of Environmental Conservation and Forestry is planning to reduce the tax on agarwood produced by agarwood farms.
The ministry is working to set the tax on agarwood produced at local farms for export at less than 25 per cent of the local price, according to the ministry.
There are about 50 million agarwood trees growing on 50,000 acres of private agarwood plantations in Myanmar, according to MAEA.

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