TFS sandalwood sales hit $19.8m

Indian sandalwood company TFS Corporation has announced that revenue sales from its 2006 Indian sandalwood project in Kununurra totalled $19.8 million, up 62 per cent on last year’s sales of $12.25 million.

CEO of Perth-based TFS, Tom Cullity, said the company, which originally had 300 hectares of its 2006 Indian Sandalwood project for sale, accepted applications for 325ha.

“We had additional product for extra 50-hectare units, but we didn’t want to go too far in terms of getting seedlings grown; we didn’t want to be under too much pressure,” he said.

“We want adequate capacity so we limited it to 325ha, which was a logistical consideration.

“We are confident the market is expanding, but it is hard to quantify it.” 

Mr Cullity said the company, which had increased its planting from 254ha last year, didn’t want to over-plant and find that there was a lack of interest in the market.

TFS currently has more than 700ha of Indian sandalwood under irrigation in the east Kimberley.