Silvalis: Standing Strong

The Australian sandalwood industry is undergoing a major transition. With Quintis now liquidated and Santanol up for sale, Silvalis (formerly WASP) remains the last significant player in large-scale Western Australian sandalwood production. However, unlike its fallen competitors, Silvalis focuses on plantation-grown Santalum spicatum (WA native sandalwood), making it the last major producer of this species in Australia.

The Fall of Quintis and Santanol: A Shift in the Industry

Both Quintis and Santanol were centered on Indian sandalwood (Santalum album), a species primarily used in luxury perfumery and pharmaceuticals. While Indian sandalwood has historically commanded high prices, market volatility, investor uncertainty, and long maturation cycles contributed to financial challenges. Quintis ultimately collapsed, entering liquidation in 2024, while Santanol is currently seeking a buyer, leaving its future uncertain.

Silvalis: Private and Independent

Silvalis stands apart due to its focus on Santalum spicatum, which is naturally adapted to WA’s environment and sought after for its unique oil profile. Unlike its defunct competitors, which relied on public investment models, Silvalis is privately funded through institutional investors, ensuring financial stability and long-term strategic growth. The company manages over 19 million trees across 15,126 hectares, positioning it as the primary source of plantation-grown WA sandalwood. Silvalis is well funded and well placed to take advantage of the Indian sandalwood (album) resources that are coming to market via distressed asset sales and liquidation. Silvalis is broadening its product range to encompass the availability of album to select customers.

The Role of the Forest Products Commission (FPC)

While Silvalis cultivates sandalwood in sustainably managed plantations, wild sandalwood harvesting is still conducted by the Forest Products Commission (FPC). However, native Santalum spicatum populations are severely depleted, with poor natural regeneration and increasing pressure on wild stocks. This reinforces the importance of plantation-grown supply as the future of WA sandalwood.

With Quintis and Santanol gone, Silvalis now stands as the last major player in WA’s sandalwood plantation industry, ensuring a sustainable, privately funded, and plantation-driven future for Santalum spicatum.