The Fiji Hardwood Corporation Limited (FHCL) is embarking on a significant reassessment of its mahogany tree valuation, with expectations of a notable increase from the $213 million determined in 2017, reflecting the growth of the trees. General Manager Semi Dranibaka has announced plans for a comprehensive forest inventory across the corporation’s 41,000 hectares of mahogany, ensuring stakeholders receive the latest information pertinent to the company’s operations.
Despite only 5,000 hectares being harvested since 2005, there is a considerable opportunity for increased production. However, FHCL faces essential challenges; notably, accessing global markets hinges on obtaining the necessary forest certifications that mandate adherence to strict environmental and operational standards.
Dranibaka highlighted that certification extends beyond just harvesting timber – it incorporates reforestation efforts and environmental protection while complying with international regulations. To aid in this crucial certification process, FHCL has procured a grant of $956,000 for the fiscal year, aiming to deliver enhanced economic benefits to both the government and landowners.
The corporation is set to finalize its reports by year’s end, while a detailed audit is projected for the following year. This undertaking is vital not only for improving market access but also for fostering stronger bonds with landowners, ensuring fair compensation and their active engagement in ongoing operations.
By tackling the certification hurdles and focusing on sustainable practices, FHCL aspires to rejuvenate Fiji’s mahogany sector, which could lead to extensive economic advantages for local communities. This commitment to responsible resource management and sustainability offers a promising future for the timber industry in Fiji, blending economic growth with environmental conservation.
The proactive steps being taken by FHCL provide a hopeful narrative for enhancing the prospects of the region and cultivating a healthy environmental ethos within the industry.
Leave a comment