Rosewood auction fetches rupees 3.93 crores

The first day rosewood auction on Saturday fetched rupees 3.92 crores.

Rosewood auction will be held for three days at Thithimathi timber depot. The auction is held after a gap as the earlier auction was blocked, alleging misdeeds. Lokayukta conducted raid earlier and had arrested officials alleging underhand dealing in the auctioning.

This time, the three day auction is held under strict instructions and arrangements. Video shooting of the whole process is also held to prove transparency.

Timber merchants and buyers from various states have also arrived to buy the timber. Rosewood is found in large quantity for auction and there is scarcity of teak wood. The officials present in the auction said that the rosewood is sold at a high price of rupees 8700 per cubic feet against the normal price between 1500 and 3500. Hectic competition is noticed to buy rosewood. Rosewood has a record price of rupees ten thousand fetched at Kushalnagar depot per cubic feet.

 -ShakthiDaily

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One Response

  1. could u tell me how much will i get for a rose wood tree /.. and could u send me a list of buyers who are interested to buy these trees >>..

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