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Tobacco exports jump by 9.27% in FY08-09
Categories:
· Business
International:
· India
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Source:http://economictimes.indiatimes.com/,2009-07-17
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Driven by increased demand, India's tobacco exports went up by 9.27 per cent to 2.24 lakh tonnes during 2008-09 fiscal compared with
two lakh tonnes in the same period last year, a senior Tobacco Board official has said.
A rise in demand and higher price realisation augmented more export of Indian tobacco during 2008-09, he said.
Raw tobacco exports rose by 12.5 per cent at 1,96,628 tonnes during 2008-09 fiscal from 1,74,690 tonnes in the year-ago period, while shipment of tobacco products stood at 27,776 tonnes, against 30,667 tonnes last year, according to the Tobacco Board statistics.
In value terms, tobacco exports rose significantly by 67.3 per cent to Rs 3,383 crore against Rs 2,022 crore in the same period last year, it said.
Exports rose in value terms as Indian tobacco prices hit records due to a shortfall in output in some of the major producing countries, including China last year, the official said.
Prices of tobacco skyrocketed to a record average of Rs 84.75 per kg during auctions in Andhra Pradesh in 2008 against Rs 47.47 in the previous year. Similarly, prices of the highest quality tobacco in Andhra Pradesh spiraled to a record Rs 141 a kg against Rs 65 per kg in 2007, he said.
Prices in Karnataka are reported to have exceeded the peak achieved at the Andhra auctions by over 30 per cent, he added. |
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