The value of the exisiting plantations are based on assumptions around the market value of sandalwood oil.
In previous years Qin was the winning bidder at the auctions that they ran for the owners so they could keep the price per kg up. These market prices were used to help value the plantations in the balance sheet
I would like to see some long term supply contracts put in place with good quality buyers. It surprises me that this never happened. The supply based on the harvesting plan is for a large ramp up over the next few years.
The marketing all talked about the lack of supply of sandalwood in India due to illegal logging in the native forests... why isn’t there a significant worldwide demand to buy the available wood/oil from QIN?
Ann: Chairman and CEO Address 2017 Annual General Meeting, page-39
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