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Published on Aug 24, 2015
VO Experts from Singapore plan to inject agarwood trees in Laos INTRO: Experts from Singapore plan to inject agarwood trees in Laos with a special chemical reagent that will enable the oil produced by the trees to be sold and used as a perfume. Previous attempts by growers to obtain perfumed resin from agarwood trees have failed. STORY: The Global Outstanding Chinese 100 Organisation of Singapore in partnership with One Plantation Capital Pte Ltd on Wednesday signed a Memorandum of Understanding on the Joint Development of Agarwood with the Ministry of Agriculture and Forestry in Vientiane. Deputy Prime Minister Somsavat Lengsavad together with the Head of the Government Office Sonexay Siphandone and Minister of Agriculture and Forestry Vilayvanh Phomkhe and other officials witnessed the signing ceremony. The Global Outstanding Chinese 100 Organisation will work to provide credit for agarwood tree growers and buy the oil from farmers, while One Plantation Capital Pte Ltd will inject the trees with the special chemical. Under the newly signed MoU, growers will receive credit from the Global Outstanding Chinese 100 Organization so they can pay US$90 for each injection, but they will be required to sell all of the harvested product to the company. The company is considering buying agarwood for US$1,000 to US$1,500 per tree.