At the end of October, a certain media reported on the status quo of the mahogany market under the title "The mahogany furniture was destroyed by a hype bubble and 80 million furniture fell to millions". Subsequently, the first floor of Beijing Redwood organized a well-known industry expert and consumer representatives to hold a press conference, pointing out that the "fall" of redwood furniture is not true. At the meeting, Jiang Hengfu, secretary general of the China Furniture Association, made an analysis of the recent mahogany furniture industry market and price trends, advocating that mahogany operators need to operate in good faith, consumers must consume rationally, producers strive for excellence, and propagandists seek truth from facts.
Wu Xinjian, chairman of Jinfei Redwood, pointed out that redwood is a scarce wood resource imported. It is expected that the price of mahogany furniture will rise by about 10% by the end of December, and will rise by at least 30% in May next year.
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