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| Tobacco export volumes down by 7.8% in Apr-Nov |
| Press Trust of India / New Delhi Jan 24, 2012, 14:36 IST |
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Tobacco shipments from India, the third-largest exporter in the world, fell by 7.8% to 1,54,171 tonne during the April-November period of the current fiscal on account of surplus global stock and less competitive prices, the Tobacco Board said.
The country shipped 1,67,319 tonne of tobacco overseas in the year-ago period, it said.
"Tobacco exports fell as the contracted price was lower in the wake of surplus availability in the global market," a senior Tobacco Board official told PTI.
Tobacco shipments, comprising raw tobacco and its products, fell by 7.27% in value terms to Rs 2,523.14 crore during the April-November period of FY12 from Rs 2,721.04 crore in the year-ago period, he said.
While tobacco product exports surged in terms of both value and volume terms, raw tobacco shipments declined.
The country shipped 26,429 tonne of tobacco products like cigarettes worth Rs 659.59 crore abroad during the review period, as against 24,746 tonne worth Rs 605.01 crore in the corresponding year-ago period.
In contrast, raw tobacco shipments declined marginally in volume terms to 1,27,742 tonne from 1,42,573 tonne, while in value terms, exports of raw tobacco fell to Rs 1,863.55 crore from Rs 2,116.03 crore in the period under review.
India, with annual production of about 700 million kilograms of tobacco, exports raw tobacco and products to major markets such as Belgium, Russia, Philippines and Germany.
Cultivation of tobacco is controlled by the government. Andhra Pradesh and Karnataka are the two major growing states. At present, tobacco prices in Karnataka are ruling at Rs 97.69 per kg in Karnataka on average.
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