The week-long global e-auction of 4,160 metric tonnes of seized red sanders logs fetched a revenue of over Rs.1,000 crore to the Andhra Pradesh government.
The auction was conducted from November 24 to December 1. Different grades of red sanders -- 4.69 MTs of ‘A’ grade, 166.8 MTs of ‘B’ grade and 3,988.81 MTs of ‘C’ grade -- were put up for auction through 177 lots.
According to an official release issued by A.V. Joseph, Principal Chief Conservator of Forests, the overall average rate per metric tonne during the sale was Rs.27.41 lakh.
For the single lot of ‘A’ grade, the price offered was Rs.1.95 crore per metric tonne, while it ranged from Rs. 48.45 lakh to Rs.155.35 crore per metric tonne of ‘B’ grade.
The maximum amount for ‘C’ grade was Rs.40.72 lakh per metric tonne and minimum was Rs.15.15 lakh.
Although the Director General of Foreign Trade permitted the sale and export of red sanders for 8,854 MTs, the State government decided to auction only 4,160 MTs in the first phase.
A top official of the Forest Department said the response had been excellent. He said the remaining quantity would be put up for e-auction next month.
The successful bidders would have to pay 25 per cent of the sale amount in 10 days after confirmation by the government and the remaining sum in 30 days. They could lift the stock in 90 days.
As part of the efforts to get wider response, the State government had earlier deputed top officials of the Forest Department to China and Japan to hold pre-bid meetings and road shows.
