Tobacco exports marked a record Rs12,005 crores in FY2024

New Delhi [India], January 1 (ANI): India's unmanufactured tobacco exports reached a record Rs12,005.89 crore in 2023-24, reflecting a staggering 87 per cent growth over the past five years.

According to the Ministry of Commerce and Industry, export volumes surged from 218.84 million kg in 2019-20 to 315.51 million kg in 2023-24, bolstered by effective government policies and the Tobacco Board's relentless efforts.India, the second-largest tobacco producer globally, has maintained its dominance in the export market.

Through crop planning and production regulation, the Board has effectively catered to both domestic and export demands, while extending crucial handholding assistance to farmers for producing high-quality tobacco that meets international standards.

Tobacco exports have significantly contributed to the national exchequer, providing valuable foreign exchange. India now stands as the second-largest exporter of unmanufactured tobacco by quantity, following Brazil, and ranks fourth in Flue-Cured Virginia (FCV) tobacco production globally.

The Tobacco Board's initiatives have played a vital role in doubling the incomes of FCV tobacco farmers. The average earnings of farmers rose from Rs124 per kg in 2019-20 to Rs279.54 per kg in 2023-24, demonstrating the effectiveness of strategic market mechanisms, including the IT-enabled electronic auction system.

In the 2023-24 FCV tobacco season, Andhra Pradesh witnessed a record-breaking production of 215.35 million kg, with farmers realizing an all-time high average price of Rs288.65 per kg.

The auctions, conducted across 16 platforms, saw 43,021 growers participating, earning a collective Rs6,313.58 crore. The highest price recorded this season was Rs411 per kg, a significant increase from Rs289 per kg last year.

The Board has extended welfare measures, including financial relief, to support farmers in challenging times. Penalty waivers for the sale of 76.84 million kg of excess tobacco saved farmers Rs184 crore.

Additionally, the Board and growers contributed Rs92.70 lakh to the Andhra Pradesh Chief Minister's Relief Fund, aiding victims of recent cyclones.

To ensure sustainable practices, the Board promotes developmental activities and environmentally responsible cultivation. By aligning with government policies, it continues to support farmers and enhance the industry's global competitiveness. (ANI)