The elephant in the room: Madagascar's rosewood stocks and stockpiles

Abstract

Abstract To prevent the illegal trade in wild species, stock management is critical given stocks function as a buffer to supply chains during lean periods or as a mechanism for market speculation. The Madagascar government with backing by the World Bank recently promoted the sale of confiscated rosewood to reach a zero‐stocks situation. To better assess options, we contrast the risks and rewards of four stock management options. Stock destruction broadcasts a potent conservation message, but provides little economic benefit. National trade can be beneficial to local socioeconomic development goals, but can lead to laundering of illegal products. International trade is fraught with risks related to illegal trade and is perceived to achieve the least related to forest and socioeconomic indicators. Lastly, banking stocks act to postpone decisions. No management option ensures a sustainable solution, but critical analyses allow better insight to the strengths and weaknesses of the available approaches.

Keywords

• CITES
• elephant ivory
• endangered wildlife
• international trade
• precious timber
• stocks management