In recent months, Burmese rosewood (scientific name: Dalbergia oliveri), which was not popular in the past, has taken over from scarlet rosewood (Dalbergia sibirica) and become the driving force behind a new surge in rosewood prices. It is now expected to become the next big trend in the furniture market.
In June of last year, five types of mahogany, including red rosewood, were listed under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). This has led to increased scarcity of tree species, along with stricter export controls from producing countries, causing rosewood prices to soar.
"After red rosewood, Burmese rosewood has seen a rapid increase in value and should serve as a new alternative for furniture," said one industry insider. According to reports from several redwood companies, the price of Burmese rosewood has more than doubled since October last year. For example, the price of 30-40 cm caliber Burmese rosewood was around 12,000 yuan per ton last summer, and it has now risen to 28,000 yuan per ton.
It's understood that during the previous price hike of red rosewood, this wood became increasingly scarce and gradually shifted from being a commodity to an investment and collectible item, unable to meet the growing demand. As a result, operators of mahogany furniture started to step back and look for alternatives. Among the various rosewoods, Burmese rosewood stood out as the most promising option for appreciation. Additionally, the Myanmar government announced a new export policy, banning log exports from April 1, 2014, triggering a rush to buy before the ban, further boosting the price of Burmese rosewood.
Chen Xin, who runs Datang Caohuali Furniture Exhibition Hall on Xianbang Road, is one of the earliest dealers of Burmese rosewood in the region. He recalls that two years ago, due to a lack of market interest, only a few counties were involved in the trade. Recently, as Burmese rosewood has become the new favorite, many merchants who previously dealt in other types of mahogany have switched to selling this wood. The involvement of large enterprises and the craftsmanship of fine products have also contributed to its rising popularity.
Chen Sisi noted that middle-end consumers, who make up the majority of the market, are now the main buyers of Burmese rosewood furniture. The furniture made from this wood doesn't suffer from issues like white edges or patchwork, and it has a rich texture with a subtle woody scent. A set of neutral-colored Burmese rosewood furniture can cost around 100,000 yuan, which has attracted many young post-80s consumers. With the Spring Festival approaching, inventory in stores is running low.
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