The Convention on International Trade in Endangered Species of Wild Fauna and Flora entered into force in June this year. According to the Convention, the import of 7 types of redwood species such as Dalbergia chinensis (commonly known as Laohong Siamese rosewood) will be restricted. China's redwoods mainly rely on imports, so the entry into force of this treaty directly promotes the price increase of Siamese rosewood logs, which has become the trigger for the current round of rosewood prices.
Before and after the National Day, it is often the time for major furniture stores to engage in preferential promotions. For this year's mahogany furniture merchants, not only do not have too many promotional activities, but hope that the current goods are not sold for the time being. In 2009, the mahogany furniture market was represented by huanghuali and lobular rosewood. After falling from the peak of prices, the mahogany furniture market has been in a downturn for the past two years. In June 2013, another round of price increases was ushered in. At present, the price of mahogany furniture continues to rise. “The price of logs has risen too fiercely!†This is the most widely heard reporter when the mahogany business explained the reason for the price increase.
Import restrictions on redwood species directly push the price of logs up
Reporters in the Bayi Furniture City, Taipingyuan Furniture Square, Yudai Bridge and other mahogany furniture businesses have received more than 30% of the information in the last three months of rosewood furniture. The salesman of the heirloom mahogany furniture told the reporter that a red rosewood chair with a price of 22,000 yuan before March, the price of at least 30,000 yuan, and certainly will rise. When it comes to the reason for the price hike, all the merchants told reporters without exception: “The raw materials of redwood rose too fiercely!†The Convention on International Trade in Endangered Species of Wild Fauna and Flora came into effect in June this year. According to the Convention, the import of 7 types of redwood species such as Dalbergia chinensis (commonly known as Laohong Siamese rosewood) will be restricted. China's redwoods mainly rely on imports, so the entry into force of this treaty directly promotes the price increase of Siamese rosewood logs, which has become the trigger for the current round of rosewood prices. As a downstream mahogany furniture industry, it naturally increases the price of furniture.
The price of rosewood furniture rose mostly for follow-up behavior
The sharp rise in raw materials of Siamese rosewood has led to a sharp increase in the price of mahogany furniture. In the face of this large price increase, consumers will have their own judgment. A Mr. Wu who saw mahogany furniture at Yudai Bridge told reporters that he had planned to buy a set of mahogany tables and chairs. The price is too high compared with a few months ago. "At this time, the purchase is not worth much. Let’s consider it first. The person in charge of Chengdu Yajutang Classical Home Furnishing Hall also said: "The price has suddenly risen so much. Consumers are really difficult to accept. From the current situation, this year's business is not as good as last year, but the current price increase is forced. The merchants can only buy a large amount of goods. It is estimated that the amount of goods sold by the merchants this year will be much higher than the actual purchases of the consumers." He believes that from the rising situation of raw materials, the increase in raw materials this year is actually only the red rosewood. Other types of rosewood prices have not increased much. In the furniture market, the price of all mahogany furniture has risen sharply, which is actually a follow-up behavior. The price of raw materials has risen, and all furniture manufacturers have been forced to raise prices. This is not a healthy price increase due to strong consumer demand. Whether this price increase consumer accepts or not, it will take time to test.
Short-term investment in mahogany must be measured
After the introduction of the Convention on International Trade in Endangered Species of Wild Fauna and Flora, Siamese rosewood logs were sold in large quantities. For a period of time, in Guangxi, Pingxiang, China's largest rosewood trading market, is rushing to buy the red rosewood. Mr. Zhang, who has just returned from Guangxi to engage in mahogany trading, told reporters that many large businesses in the country have gathered Guangxi Pingxiang to buy Dahongsuo raw materials. In the words of a Fujian boss, as long as it is a red rose, how much he wants. In just 2-3 months, the price of logs of Siamese rosewood has increased by more than 50%. In the eyes of many people, the current increase is only the beginning, and the price of Siamese rosewood will continue to rise. An industry insider told reporters, "In the current skyrocketing price, consumers should be wary of the rosewood merchants speculating on the price of rosewood, throwing out the low-priced imported mahogany furniture and turning around, resulting in high prices to buy mahogany furniture but no after-sales service. In the case of guarantees, even buy counterfeit and shoddy products. In terms of long-term development, due to the scarcity of redwood resources, price increases are inevitable, but in the face of a round of soaring, it is necessary to be cautious in making short-term investments. The same quality lobular rosewood logs rose from 150,000/ton in 2006 to 750,000/ton at the end of 2007, and the increase was crazy. But after entering 2008, the price fell to 350,000/ton in just a few months. In the lobular rosewood, huanghuali, Pu'er tea, etc., there has been such a violent ups and downs. In the face of a new round of market upswing, as investors, don't blindly follow the trend, we must rationally invest and do what we can to avoid the possible plunge and bring losses to ourselves.
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