Project to Conserve Mahogany in Sri Lanka
11/14/99
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Title: Project to conserve mahogany
Source: The Associated Newspapers of Ceylon Limited Mail
Status: Copyright 1999, contact source for permission to reprint
Date: November 14, 1999
Byline: PANEETHA AMERESEKERE
"Sri Lanka's rain forests are threatened by the growing demand for timber.
Systematic growing of commercially valuable trees can reduce pressure on the
rain forest, and at the same time create employment and generate income to
investors": Sir Arthur C. Clarke
Touchwood Investments (Pvt) Ltd., a forestry management company approved by the
Board of Investment, has started such a systematic growing of commercially
'valuable' Mahogany trees at Gawaragiriya and Ayagama in the Ratnapura district,
to help reduce pressure on the country's tropical rain forest, while giving
'solid' earning opportunities to Sri Lankans, a news release said.
The current average price of a mahogany tree is around Rs 65,000 and 'much more
overseas.' Anyone investing in mahogany could expect over Rs 750,000 per tree in
17. and a half years from now, which is the maturity period for such trees.
The communique further said the price of mahogany in the country had more than
doubled every four to five years over the last 26 years, and this trend is
expected to continue for at least another 25 years.
It said that Touchwood, as a forest management company, would provide land,
plant mahogany, manage and safeguard plantations until the maturity of trees on
behalf of their customers.
This project is expected to give direct and indirect employment
oppportunities to over 4,000 Sri Lankans when fully operational at a
planned 2,000 acres of plantation, the release said. The first phase of the
project would market 300 plots of mahogany plantation at an introductory price.
A maximum of 75,000 trees are available for sale.
The release also said the mahogany variety in the country, Swietenia
Macrophylla, was a rapidly depleting resource due to the exploitation of this
timber in natural forests.
It said this variety of mahogany was listed among the 'top ten' most wanted
species by the Convention on International Trade in Endangered Species (CITES).