31/12/2016
All I can wish is Happy New Year! Since my last posting there hadn't been any change in the agarwood business. Many businesses in the tourist belt are also suffering. How long can they hold on?
Everyday I receive posting for sale of agarwood on FB. My business is also bad even when we embarked on incense manufacturing vide sales on the website. 2017 will also be bad if not worse off for this trade. There are tons n tons of agarwood ready for sale but there are no buyer.
Agar wood is not essential, so only when it is really needed they will get the lower quality so the good quality ones are hard to sell. This trade is almost dead. So, if you are con into going into this trade now you better think again. The Arabs can still buy by volume but they want at 50% discount, these are the people that can greatly benefit from this down turn. They have the logistics n cash to make it happen. Every countries that were dealing in agarwood had aggressively expended their planting in the last decade n now you see the glut. If it is essential product we can level off in a couple of years but it is not. Trees are still growing, fools are still planting so what will happen?
Well, miracles do happen, just have to tighten the belt n see what will happen.