Don’t miss the latest developments in business and finance.

Finalise red sander export modalities by Apr 2016:Centre to AP

Image
Press Trust of India New Delhi
Last Updated : May 07 2015 | 10:28 PM IST
The Centre has asked the Andhra Pradesh government and the Directorate of Revenue Intelligence to finalise the modalities for exporting red sander wood by April 2016.
"Time up to April 30, 2016 has been allowed to the Government of Andhra Pradesh and Directorate of Revenue Intelligence (DRI) to finalise the modalities and export of respective allocated quantity of red sander wood," Director General of Foreign Trade (DGFT) said in a notification.
The wood is an endangered species of flora protected under the Convention of International Trade in Endangered Species of Flora and Fauna. It is illegal to possess and sell the same.
Red sander is found mainly in the Seshachalam hill ranges spread across Kadapa, Chittoor and Kurnool in the Rayalaseema region and parts of Nellore district in Andhra Pradesh.
The wood has huge demand abroad, especially in China and Japan, where it commands a good price. As per a media report, the wood fetches Rs 25 lakh a tonne in the international market.
It is a valued item in traditional medicines and woodcraft across China, Myanmar, Japan and East Asia.

More From This Section

It said that this time (April 2016) was prescribed for export of 1998.5917 tonnes value added products of Red Sanderswood by government of Andhra Pradesh.
The DGFT said that the government of Andhra Pradesh and DRI shall finalize the modalities, including allocation of quantities to their respective authorized entities for the export.
The whole process of export should be completed latest by April 30, 2016, it added.
"This shall be subject to such orders, as passed by the Honourable High Court of Madras or such submissions as made before the Honourable High Court of Madras...," it added.

Also Read

First Published: May 07 2015 | 10:28 PM IST

Next Story