Deal inked to improve agarwood refining process

Prof Khairuddin (second from right) showing the signed MOU.

THE global agarwood-based essential oil market is expected to reach US$201.03mil (RM842.07mil) in 2026, says University College of Technology Sarawak (UCTS) vice-chancellor Professor Datuk Dr Khairuddin Abdul Hamid.

“For agarwood of the highest grade, its value can reach up to US$100,000 (RM418,300) per kilogramme, which makes it the most expensive natural resource in the world, more expensive than gold.