AUSTRALIA, November 25, 2011 (wasandalwood.com): With global demand for sandalwood products continuing to strengthen, Perth-based company WA Sandalwood Plantations has established what is believed to be the world's largest single sandalwood plantation, located east of Perth in the state's Central Wheatbelt.
With site preparation work completed in April, more than 5 million trees were planted over recent months on some 8.5 square miles. "Our inquiries show this is the largest ever individual sandalwood plantation established anywhere in the world," said WA Sandalwood Plantations' Managing Director Keith Drage.
"Global demand for sandalwood continues to increase while supplies have declined. As a result, the future is looking very bright for the Australian sandalwood industry." Once the sandalwood trees are harvested in approximately 15 - 20 years, they will be used for the production of a range of items including joss sticks (incense), perfume and medicinal items.
HPI Note: Every year the amount of available sandalwood for sale on the world market is going down while the price is going up--now to $125,000/metric ton for wood and $2,000 per kilogram for oil, and expected to rise 6% per year for both wood and oil for the foreseeable future.