From the Guardian - Cites summit moves to protect the world’s most trafficked wild product by placing all 300 species of the tree under trade restrictions
"Governments have launched a crackdown on the rampant billion-dollar trade in rosewood timber that is plundering forests across the planet to feed a booming luxury furniture market in China.
The Convention on the Trade in Endangered Species (Cites) summit on Thursday placed all 300 species of rosewood under trade restrictions, meaning criminals can no longer pass off illegally logged species as legitimate.
Rosewood is the world’s most trafficked wild product, according to the UN Office of Drugs and Crime, accounting for a third of all seizures by value, more than elephant ivory, pangolins, rhino horn, lions and tigers put together.
With a beautiful deep red glow, it is the traditional wood used for elite, classic-style “hongmu” furniture in China: one huge carved bed was on sale recently for $1m. But due to explosive demand from China’s fast-growing middle class, the rosewood trade has soared since 2005, multiplying 65 times in value and now worth $2.2bn a year."
The full article can be found here.