SALEM: Sandalwood traders kept away from the tender-cum-auction sale held on Thursday at the Forest Department’s South Range Office here. District Forest Officer B Sugirtharaj attributed excess stock to the lack of interest on the part of traders to take part in the bid. Stocks sold out in the auction held in August last year was being delivered slowly, he said. Conservator of Forests A Venkatesh said the clamp on exports could also be the reason for traders’ non participation in Thursday’s auction where 110 tonne of sandalwood was put up for sale. High rate per tonne was also being felt as the dampener. Traders might speculate a rate decline if they skip a few auctions. The average bid price in the auction held in August last year was `43.39 lakh per tonne.Forest officials predicted the price to remain high because of the quantum of saleable stocks available in the country was an all time low. Moreover the government was likely to tighten exports because with a total stock of 400 tonnes this was the only depot in the country to hold sandalwood stock. Of this only 340 tonnes was saleable as on date.
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