More timber from the Ord to be auctioned in the next week ... wonder if TFC will continue to set the price. The average price of the last auction was between A$6-A$8/kg set by TFC. In fact they were the only bidder which is surprising. That is a long way below the US$100,000 figure most sandalwood investors think they are going to get.
On another note TFC/Mt Romance and FPC/Westcorp are locked into a legal battle that will head to the Supreme Court over access to the wild harvested Australian sandalwood timber resource. FPC want to export below the price Mt Romance is willing to pay to acquire the timber on the local market for value adding. Westcorp at the moment has an arrangement with FPC to export to India/China raw product. TFC has a strong leg to stand on since FPC is not acting in the best interest of the industry and has legislative powers that enable it to do so. But they are moving against the government which is always frought with danger ...
Add to My Watchlist
What is My Watchlist?