"New huanghuali furniture is generally made from Vietnamese huanghuali. Now, due to the scarcity of raw materials, and to protect the ecological environment, the Vietnamese government has begun to restrict the severe logging of raw materials, enacting corresponding measures and raising the export tariffs on Vietnamese huanghuali, with tariffs exceeding 100 yuan per kilogram.
The rise in raw material prices and labor costs has naturally led to finished product prices skyrocketing as well."
Market data from the end of 2010 shows that each ton of selected Vietnamese huanghuali material had reached nearly one million yuan, while board materials ranged from 2 to 3 million yuan per ton, a four to five hundred-fold increase in eight years.
In fact, the price of Hainan huanghuali increased by 400 times from 2002 to 2010, also over eight years.
