KUALA LUMPUR, February 28– Malaysia holds significant potential in exploring the agarwood tree commodity, as it is recognized for its high value and its contribution to the country’s economic sector.

Minister of Plantations and Commodities, Datuk Seri Johari Abdul Ghani, highlighted that agarwood trees possess considerable value, with a global market estimated to exceed US$1 billion.

"I will work to identify key players planting agarwood to gather production data, and then inform the Malaysian Timber Industry Board (MTIB) so we can connect them with experts who can help achieve high returns in this industry," he said.

He further emphasized that agarwood has enormous potential, especially since many international perfume brands use it as a key ingredient in their fragrances.

He made these remarks after a press conference following the launch of the book Agarwood: Diamond of The Forest in the capital.

The demand for agarwood is growing, particularly in the perfume industry, as numerous global brands have begun marketing premium perfumes based on agarwood. Additionally, agarwood is also used in the pharmaceutical industry for its medicinal properties.

This trend demonstrates that the use of agarwood is expanding both in research and business, showcasing its significant potential for producing high-value products in the future.

Johari also stressed the importance of prioritizing sustainable planting and management practices, including cultivating agarwood trees on commercial plantations as a sustainable alternative to harvesting wild agarwood from forests.