Fiji Pine mismanagement leads to $12m drop in valuation

The mismanagement of Fiji Pine Limited has seen the planting operations being neglected and the valuation of plantation forest crop has dropped by $12 million in the last two years.

Fiji Pine Limited Deputy Chairman, Ratu Jolame Lewanavanua said this as Fiji Pine commenced pine planting operations yesterday at Lololo Forest.

The Company is targeting to plant more than a million pine trees this year, with planting at other Forests also expected to commence once the seedlings are ready.

Lewanavanua said that the nursery at all forest base are at a very poor state, with some not even having any seedlings which have seen the million dollar drop.

The current board and management are focussed on reviving the pine industry and have already taken various steps in ensuring long term sustainability of the industry.

Story by: Paradise Tabucala