08-10-21 Daily-Odisha-OPSC Current Affairs

The Centre has relaxed export norms to allow Odisha sell more than 810 metric tonnes of red sanders wood, the trees of which had fallen during cyclone Titli in 2018. It is likely to fetch

This is likely to fetch more than Rs 400 crore to the state exchequer. Though export of red sanders also known as red sandalwood, an endangered species known for its therapeutic and cosmetic value, is banned, the Directorate General of under the Union Ministry of Commerce and Industry in a notification allowed the state to ship 810.1894 tonne wood as logs.

One MT of the log fetches between Rs 50 lakh to Rs one crore in the international market and is in high demand across many countries in Asia such as China and Japan. Apart from medicines and cosmetics, it is also used in woodcraft and Musical instruments.