India's tobacco exports to Russia slip by 92% in February
India's tobacco exports to Russia have declined by over 92 per cent to 144 tons in February, compared to 1,576 tons in the same month last year, mainly due to Moscow imposing a ban on the commodity.
By PTI |
NEW DELHI: India's tobacco exports to Russia have declined by over 92 per cent to 144 tons in February, compared to 1,576 tons in the same month last year, mainly due to Moscow imposing a ban on the commodity.
"The ban has affected exports to Russia. Especially in February, the overseas sale has slided significantly," Tobacco Board Chairman J Suresh Babu told PTI.
The total exports flu cured Virgina (FCV) tobacco stood at 114 tons in February, against 1,576 tons in the corresponding period last year. While in value terms, exports slipped to Rs 36.01 lakh, from Rs 1235.08 lakh, the Board said.
Russia, one of the top export destinations for Indian tobacco, had imposed a ban on Indian commodities including tobacco on January 28, after a dangerous pest was allegedly found in sesame seed imports. However, the ban was later lifted partially.
FCV tobacco known for its lower nicotine and tar content has a major share in cigarette blends.
Meanwhile, export to other countries like Belgium increased to 1,178 tons in February, from 843 tons in the same month last year, the Board said.
The country's total FCV tobacco export increased by 11 per cent to 1.13 lakh tons during the first 10 months of the current financial year, compared to 1.02 lakh tons in the previous year.
India produces about 700 million kg of tobacco annually, out of which 30 per cent is FCV tobacco. On an average, 50 per cent FCV tobacco is used by the domestic cigarette industry, while the rest is exported.
"The ban has affected exports to Russia. Especially in February, the overseas sale has slided significantly," Tobacco Board Chairman J Suresh Babu told PTI.
The total exports flu cured Virgina (FCV) tobacco stood at 114 tons in February, against 1,576 tons in the corresponding period last year. While in value terms, exports slipped to Rs 36.01 lakh, from Rs 1235.08 lakh, the Board said.
Russia, one of the top export destinations for Indian tobacco, had imposed a ban on Indian commodities including tobacco on January 28, after a dangerous pest was allegedly found in sesame seed imports. However, the ban was later lifted partially.
FCV tobacco known for its lower nicotine and tar content has a major share in cigarette blends.
Meanwhile, export to other countries like Belgium increased to 1,178 tons in February, from 843 tons in the same month last year, the Board said.
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The country's total FCV tobacco export increased by 11 per cent to 1.13 lakh tons during the first 10 months of the current financial year, compared to 1.02 lakh tons in the previous year.
India produces about 700 million kg of tobacco annually, out of which 30 per cent is FCV tobacco. On an average, 50 per cent FCV tobacco is used by the domestic cigarette industry, while the rest is exported.
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