Major plans are now being unveiled by a Central American Timber export firm which has been exporting Fiji Mahogany to the US and Carribean countries like Dominican Republic, Puerto Rico and Jamaica.
Fiji has the largest standing matured mahogany plantations in the world and the American company Mega Maderas confirmed that they have exported an impressive $45 million worth of Fiji Mahogany to overseas markets since 2005 and expects to export $15 million for this year alone.
Mega Maderas General Manager Fiji, Carlos Arriola said the company has become the main buyer and business partner of Fiji Hardwood Corporation generating an average monthly demand of 55 containers of rough lumber.
Arriola said Fiji Hardwood Corporation has received a total of about $34 million from these exports and more money is expected to come in with investment plans for the introduction of new technology and equipment to meet the demand for value added mahogany products in their export markets, providing more jobs for the local market.
Arriola said Mega Maderas Fiji Limited was incorporated in December 2009 and so far it has already brought into Fiji more than $2.3 million and plans to bring a further $7.5 million in the next 2 years.
Arriola said Mega Maderas is among the top 25 most successful hardwood companies worldwide.
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Major plans underway for Mahogany industry
