A Solomon Islands Company Lagoon Eco Timbers has sign a contract with Kohinoor Traders of India and the teak farmers of Balasuna in the North Guadalcanal plains for the sale of teak thinnings.
The agreement, which opens a new chapter in the marketing of teak, was made possible under the European Union-funded Facilitating Agricultural Commodity Trade project, implemented by the Secretariat of the Pacific Community, SPC.
The Solomon Islands Broadcasting Corporation reports the SPC Office in Honiara says older teak has been sold previously to other teak buyers.
However, it says this will be the first sale of teak from plantations, most of which are about 10 years old and this will be the first time Solomon Islanders receive benefits from planting teak.
Manager of Lagoon Eco Timbers, Ridolo Geve, says that he is willing to buy thinnings for the first time to support the teak reforestation programme and encourage people to participate in the busines