(Commonwealth_ Sadaharitha Plantations Ltd. has made a significant stride in the commercial forestry sector by successfully entering into an agreement with agarwood growers in Malaysia to share and sell its proprietary “SP Tech” for the inoculation of agarwood trees. This groundbreaking technology, which has been meticulously developed through years of rigorous research and development, is specifically designed to enhance resin production in agarwood trees using natural ingredients.
The agreement will initially involve the inoculation of one million agarwood trees annually. To support this large-scale operation, three new agarwood product factories will be established in Malaysia, spread across different states. This substantial development represents a pivotal achievement not only for Sadaharitha but also for Sri Lanka’s commercial forestry sector. By 2028, it is anticipated that the advancements resulting from this agreement will be capable of meeting up to 30% of the global demand for agarwood oil.
This strategic partnership with Malaysian agarwood growers underscores the credibility and trust that international partners have in Sadaharitha, affirming the company’s position as a trailblazer in the industry. Sadaharitha’s innovative “SP Tech” signifies a significant advancement in the field of agarwood cultivation, offering a method to substantially increase agarwood yield and satisfy the global demand for high-quality agarwood products. This achievement aligns seamlessly with the company’s long-standing commitment to sustainable practices and green investment. Over the years, Sadaharitha has planted more than one million trees and served over 47,000 satisfied customers, both locally and globally, demonstrating their dedication to environmental stewardship and customer satisfaction.
Sadaharitha Group Chairman Sathis Navarathna commented on the agreement, stating, “Our expansion into the Malaysian market through technology export and expertise sharing reflects our pioneering spirit and dedication to environmental stewardship. By exporting our unique, home-grown technology and techniques, we are both enhancing our global footprint and contributing to Sri Lanka’s foreign income earnings. We are also proud to announce that this partnership with Malaysia is the largest programme of its kind in the history of the industry, highlighting the trust and confidence the world places in Sadaharitha.”
The development and implementation of SP Tech mark a significant milestone in the agarwood industry. Agarwood, also known as “oud,” is a highly valued resinous heartwood used in perfumes, incense, and traditional medicine. The resin is produced when the agarwood tree is infected with a specific type of mold, and Sadaharitha’s SP Tech enhances this natural process, resulting in a higher yield of the precious resin. This technological innovation not only promises to meet the burgeoning global demand for agarwood products but also ensures that the cultivation process remains environmentally sustainable.
The agreement with Malaysia is set to revolutionize the agarwood industry, setting new standards for production and quality. The establishment of three new factories in Malaysia will create numerous job opportunities and foster economic growth in the region. Moreover, the enhanced resin production will cater to the increasing global demand, particularly from markets in the Middle East, Asia, and Europe, where agarwood products are highly sought after.
Sadaharitha’s commitment to sustainable practices is further exemplified by its extensive reforestation efforts and adherence to environmentally friendly cultivation methods. The company’s holistic approach to commercial forestry includes not only technological innovation but also a deep-seated responsibility towards preserving the natural environment. By integrating sustainable practices with cutting-edge technology, Sadaharitha sets a benchmark for other players in the industry to follow.
The partnership with Malaysian agarwood growers also highlights the potential for international collaboration in the forestry sector. By sharing technology and expertise, countries can work together to achieve common goals of sustainability and economic development. This collaborative approach is crucial in addressing global challenges such as climate change and resource depletion.
