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INDIAN TOBACCO STOCKS MOUNT TO 30 MLN KG.

AsiaPulse News

| December 03, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, Dec 3 Asia Pulse - Apart from tea, coffee and rubber it is also the tobacco growers which have plunged into a crisis as there is hardly any domestic demand, exports have been hit and stocks are accumulating resulting in prices going below the cost of production.

"In Karnataka alone there is a stock of 30 million kgs not being purchased causing the prices to crash to around Rs 35 (US$0.73) per kg from Rs 55 per kg last year, not even meeting the cost of cultivation," President Karnataka Tobacco Growers Forum A M Anantharamu told PTI.

Primarily 80 per cent of the Virginia tobacco produced in Karnataka is exported but this is not happening with the Russian market having been hit and buyers from abroad wary of sourcing their requirements from India owing to its proximity to Afghanistan, Forum's Vice President ...

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