Assam Achieves Historic Agarwood Export to Gulf, Targeting ₹50,000 Crore Market Potential
Assam makes first legal agarwood export to Gulf, eyes Rs 50,000 crore potential
The Economic TimesImage: The Economic Times
Assam has made its first legal export of agarwood chips, sending 112 kg to Saudi Arabia and the UAE, valued at ₹2.35 crore (approximately $283,000 USD). This milestone, supported by the Assam Agarwood Promotion Policy, could generate up to ₹50,000 crore annually, transforming the state's agro-forest economy.
- 01Assam's first legal agarwood export consists of 100 kg to Saudi Arabia and 12 kg to the UAE.
- 02The shipment is valued at ₹2.35 crore (approximately $283,000 USD).
- 03The Assam Agarwood Promotion Policy aims to regulate and legalize agarwood cultivation and exports.
- 04Organized exports could generate up to ₹50,000 crore annually for Assam's economy.
- 05The agarwood industry has potential for significant job creation and rural development.
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Assam has achieved a significant milestone by exporting 112 kg of agarwood chips to Saudi Arabia and the United Arab Emirates, marking the state's first legal export in this sector. The shipment, valued at ₹2.35 crore (approximately $283,000 USD), was dispatched from Lokpriya Gopinath Bordoloi International Airport with all necessary regulatory approvals, including a CITES permit. Dr. Jehirul Islam, Chairman of the All Assam Agarwood Planters & Traders Association, emphasized that this achievement is the culmination of years of research and policy advocacy aimed at enhancing the agarwood industry. The Assam Agarwood Promotion Policy, introduced in 2020, seeks to create a transparent ecosystem for farmers and curb illegal agarwood trade. Dr. Islam noted that the organized agarwood sector could generate up to ₹50,000 crore annually, positioning it as a leading foreign exchange earner for the state. The expansion of agarwood plantations and processing facilities is expected to create jobs and boost the rural economy in Assam and the wider Northeast region.
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The legal export of agarwood chips is expected to create significant economic opportunities for farmers and small enterprises in Assam, potentially transforming the rural economy.
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