Sainimili Magimagi 
The Fiji Hardwood Corporation Limited is preparing to revalue its standing mahogany trees, expecting an increase from its 2017 valuation of $213 million as trees have matured.
General Manager Semi Dranibaka says the company will conduct a new forest inventory, providing an up-to-date assessment of its 41,000 hectares of standing mahogany trees.
He added that since 2005 only 5000 hectares have been harvested, and the corporation is eying significant potential in expanding production.
However, Dranibaka says, challenge lies not only in increasing output but also ensuring access to global markets, which requires forest certification.
This, he says will require additional costing, including workforce expansion, environmental protection measures, and IT infrastructure.
“One of the setbacks is that certification requires us to meet strict environmental and operational standards, it is not just about harvesting, and it’s about replanting, protecting the environment and ensuring compliance with international regulations.”
The corporation was provided a grant of $956,000 this fiscal year, boosting the certification process.
Dranibaka confirms that reports are expected to be completed this year, with a final audit scheduled for next year.
This would, in turn, benefit not only government but also landowners.
He further added the need for securing funding resources and strengthening political support.
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