Rosewood a rosy business in China
Rosewood furniture may not be sought after in places like Singapore, but in China, demand for it is so strong that it's pushed prices sky high.
GUANGXI: Rosewood furniture may not be sought after in places like Singapore, but in China, demand for it is so strong that it's pushed prices sky high.
Mr Simon Pang, a local rosewood supplier said: "Some young people feel that it is not as comfortable sitting on rosewood furniture so they choose to buy western style leather sofas.
"But rosewood furniture is more durable."
In contrast, there's a strong demand for rosewood furniture in China, which has driven prices sky high.
China rosewood supplier Liu Xin said: "As demand in China increases, the rosewood market will also grow. But as raw material become increasingly scarce, prices for the finished product will continue to rise."
In the coastal city of Fang Cheng Gang in China's Guangxi province, a rosewood market houses more than 80 firms.
These firms get raw material from Vietnam and do the processing in China.
Business for them, over the last three years, has more than doubled.
China rosewood supplier Feng Jun Ying said: "All our resources are obtained from Vietnam. But Vietnam is now unable to meet our demand, so it in turn imports from Laos and Cambodia."
The sale of rosewood in the market alone can bring in up to 10 million yuan or US$1.5 million a month.
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