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KFDC to e-auction sandalwood oil

Update On :21 June 2016

KFDC to e-auction sandalwood oil

The e-auction of sandalwood oil will be conduct by Kerala forest development corporation (KFDC) in Marayoor .The auction will be held on July 12. The sandalwood oil is produced by at the sandalwood oil factory of Kerala forest development corporation at Marayoor.

As many as 78 kg of sandalwood oil (packets of one kg each) will be sold by e-auction. The market rate for one kilogram of sandalwood oil is Rs 3 lakh.The forest department expects that e-auction will attract more buyers from Kerala and outside.

The forest department started the sandalwood oil factory at Marayoor in 2011. The sandalwood oil now sold is being produced in the factory.

"We expect many companies to take part in the e-auction. The chief conservator of forests will fix the rates. We expect to get over Rs 2 lakh from each kg of sandalwood oil auctioned," said Kiran Johns, divisional manager, KFDC Marayoor division.

News Source From : http://timesofindia.indiatimes.com/city/kozhikode/Forest-department-to-e-auction-sandalwood-oil/articleshow/52843790.cms

Image Courtesy : http://www.mstcindia.co.in/mstc/Script/lib/images/photos/sample-01.jpg

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