UAE, located in the Middle East, is one of the largest importers and traders of agarwood in the world. In recent years, while the global agarwood market has experienced significant fluctuations, UAE has remained a stable region and a destination for many global businesses. So, besides its immense wealth, what makes UAE an attractive hub for sustainable agriculture in this sector?
Statistics in UAE
According to the latest available data from the United Nations Comtrade database, the UAE imported $41.9 million worth of agarwood in 2019. This represents a significant increase from previous years, with the country importing only $23.3 million worth of agarwood in 2015.
So why does UAE import such a large amount of agarwood for its purposes?
1. Traditional essential oil production
One of the main uses of agarwood in UAE is the production of traditional attar essential oil. Attar is a type of perfume made from natural ingredients, including essential oils, resins, and other aromatic substances. Agarwood is an important component in many essential oil blends and is highly valued for its rich earthy fragrance and long-lasting scent.
2. Production of luxury goods
Another significant use of agarwood in the UAE is for the production of luxury goods. Agarwood is utilized in creating various high-end products, including furniture, jewelry, and even car interiors. The wood is highly regarded for its intricate patterns, unique colors, and its fragrant properties.
However, due to the high demand for agarwood and limited supply, this wood has become increasingly rare and expensive in recent years. Therefore, efforts are being made to conserve and sustainably harvest agarwood in UAE and other countries where it is found. The UAE government has implemented regulations to control the extraction and trade of agarwood, ensuring responsible and sustainable harvesting practices.
3. Use in religious activities
As mentioned in our article on Ramadan for Muslims, agarwood is extensively used during these religious occasions. Nowadays, with an increasing number of people practicing Islam, the demand for agarwood has also grown. This is good news for agarwood-producing countries, including Vietnam.
SUHACO, the top choice in Vietnam
Together with HOANG GIANG AGARWOOD and BINHNGHIA AGARWOOD, SUHACO is one of the largest agarwood production companies in Vietnam. With over 12 years of experience in the agarwood business, we take pride in being the most knowledgeable company in this market within the region.
Our success relies on a stringent production process, top-quality raw materials, and an expert team led by Pham Sung. A seasoned professional with over many years of experience in agarwood production and business. We are exclusively committed to using the finest agarwood sourced from sustainable and eco-friendly resources, ensuring the highest quality of our products.
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