What are the markets for Bosques Pico Bonito products?
The first market is by purchasers of certified precious tropical hardwoods who produce finished products and/or product components for established markets. Examples are fine furniture, musical instruments, and floors. Recently, the worldwide market has seen a decline in production and a rise in import demand resulting in a rise in prices. According to the International Tropical Timber Organization (ITTO), total timber imports are projected to quadruple in forest-scarce developing countries such as India and China. As an example, Chinese imports rose 250% or 31% per year from 1997 to 2005. Second, the newly formed market for Emission Reduction Purchase Agreements, also known as carbon credits is based on the recent ratification of the United Nations’ Kyoto Protocol whereby participating nations are obligated to reduce greenhouse gas emissions via both upgraded clean emissions technology, as well as through the purchase of certified carbon offsets (CERs). The company also plans to sell v
