Dubai & China companies bargain on Red Sandal Prices!

In a major disappointing move to the state government, Diamond Star, a Dubai based company has requested the state government to lower the price of the Red Sandal they bought as they have quoted more than the market price. Diamond Star is the second biggest buyer of Red Sandal in the auction after Baba Ramdev’s Patanjali. Diamond Star even defaulted in paying the mandatory 25% advance payment and asked for some more time for it.

A China company informed the government that they had to pay high amount due to the wrong entry of a digit in the price quotation and asked the state government to issue timber for the original price. Since the timber is sold in competitive bidding, there may not be a chance to lessen the prices now.

Baba Ramdev’s Patanjali bought A grade Red Sandal which was sold for 1.95 Crore per ton. Patanjali has bought 706.8 tonnes costing 207.9 Crores. They have already paid the mandatory 25% advance and also offered to pay the rest in a single go and take the timber immediately. Government has the time for total payment till 22nd of this month. But Patanjali wants it to be done as soon as possible.