Executive chairman attributed increase to stability of demand and supply factors
MV Crystal Pioneer the largest wood chip carrier to visit our shores the past year.
SUVA
The Reserve Bank of Fiji has highlighted the timber industry has continued on its positive performance this year recording higher production.
The observation was made in the central bank’s March Quarterly Review released yesterday.
“Data provided by the Tropik Wood Industries Limited show that cumulative to March, wood chip production rose annually by 95.7 per cent to 65,036 metric tonnes,” it said.
“This was driven by higher production at the Drasa Mill and is consistent with the company’s plan to have a sufficient stockpile for shipments earmarked during 2014.”
Tropik Wood Industries executive chairman, Faiz Khan confirmed there has been significant growth in export sales of woodchip.
He attributed this to stability of demand and supply factors.
“This has created more economic activities for our entire supply chain and other related services for production,” Mr Khan said.
Meanwhile, the Reserve Bank revealed there was a decline in gold production which totalled 8,222 ounces, an annual decline of 3.3 per cent.
Tourism industry
In terms of tourism, the Reserve Bank highlighted that Industry feedback to date suggested 2014 would be a positive year for the tourism industry.
This is believed to be largely on account of improving economic conditions in Fiji’s tourism source markets.
“The continued support from Government in the form of a tourism marketing grant should assist Tourism Fiji in its marketing plans,” it said.
“Moreover, Fiji will be hosting the Professional Golfers Association (PGA) of Australia tournament and various international conferences this year which should augur well for the industry.”
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