Yes a very poor result for 2002 growers due to a combination of low yields and dramatically lower prices. But even in 2002 with rock-bottom prices the growers who chose the deferred fees and gave away a % of their crop in lieu of fees still made a small profit. This illustrates how profitable sandalwood can be where it is marketed properly and high prices are achieved along with improved yields and survival rates. Yields have improved in later plantations by over 500% due to better survival rates and better quality trees as a result of improved forestry practices.
Further, the manner in which the board managed and marketed the 2002 tree tender was extremely poor and little wonder few buyers were attracted. Wood was left in a dirty and very hot tin shed with no lighting and it was very difficult to inspect the logs, nothing was done to showcase the wood to buyers whatsoever. Matthys, Dilalo, Thompson once again showcasing their sales and marketing skills for growers and shareholders.
QIN Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
