The government has allowed Karnataka to finalise the modalities and complete the process of export of red sanders wood by April 30 this year.
"Time up to April 30, 2019 has been allowed to state government of Karnataka to finalise the modalities and complete the process of export of balance quantity of red sanders wood," the directorate general of foreign trade (DGFT) has 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 sanders are 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 and Karnataka.
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.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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