Giving a relaxation to the tobacco company, which has been fighting on the international platform, tobacco exports from India are a little picking up and have registered an ascending trend during the first two months in the first quarter of the financial year. It is a strong suggestion that the demand for the Indian products will raise later soon. Even though the previous financial year ended on a negative direction with almost 7 percent decrease in exports, it recovered quickly following the increase in exports in April and May 2012.
According to industry sources, Indian traders exported stocks worth approximately Rs 562.85 rupee against Rs 522.94 crore during the corresponding period in 2011. An increase of over Rs 40 crore in just two months is very important, given the poor export trends that have been reported for the past few years. In fact, total exports till March 2012 decreased by nearly 7 percent in terms of total value as it decreased to Rs 3090.21 crore from Rs 3192.39 crore reported during 2010-11.
Tobacco traders are struggling to manage the position as neither they could cut down the act nor arrange off all the stocks. The merchants started picking up stocks actively from the local platforms only after getting strong suggestions from the international tobacco market that the global demand for the Indian products is likely to see northward in the coming days.
Tags: tobacco exports