Tobacco Exports Surge 69% in April-Oct Period

Source from:  The Hindu 12/04/2008

NEW DELHI: The country's tobacco exports surged 69 per cent to Rs 1,952.43 crore in April-October this year compared to the year-ago period on the back of better price realisation. In volume terms, tobacco exports, comprising raw tobacco and its products, rose by 24 per cent to 1,45,541 tonnes during April to October from 1,17,118 tonnes in the same period last year, a senior Tobacco Board official told PTI. "India exported tobacco worth Rs 1,952.43 crore between April and October, compared to Rs 1,154.76 crore a year ago," the official said. Raw tobacco exports from the country soared to Rs 1,623.10 crore in April-October from Rs 856.60 crore in the same period last year while. In volume terms, the shipments rose to 1,29,158 tonnes during the period from 1,01,496 tonnes last year, he said. The country exported tobacco products worth Rs 329.33 crore in April-October from Rs 298.16 crore a year ago. In volume terms, the shipments touched 16,383 tonnes compared to 15,622 tonnes, he added. Tobacco prices hit records due to a shortfall in outp ut in some of the major producing countries, including China, last year. "Record prices and the depreciation of rupee have contributed immensely to the surge in realisations," the official said. Prices of tobacco skyrocketed to a record average of Rs 84.85 per kg during auctions in Andhra Pradesh this year against Rs 47.47 last year. Similarly, prices of highest- quality tobacco in Andhra Pradesh spiralled to a record Rs 141 a kg this year against Rs 65 last year. The prices in Karnataka auctions, which started in September, have shot up to an average of Rs 105.15 per kg till yester day, he said. Enditem