In a move to provide immediate relief to over 28,000 FCV Tobacco farmers affected by Cyclone Mandous in Andhra Pradesh, Union Commerce and Industry Minister Piyush Goyal accorded approval for Rs 28.11 crore to extend the special interest-free loan of Rs 10,000 to each member of Tobacco Board’s Growers’ Welfare Schemes.
The move will benefit 28,112 farmers under the Southern Regions (Southern Light Soil and Southern Black Soil) of Andhra Pradesh.
According to the Ministry of Commerce and Industry, this measure will help the FCV Tobacco farmers overcome the damage caused by Mandous cyclonic rains and would greatly help the growers to take up immediate damage mitigation measures.
FCV tobacco is a major commercial crop grown in 10 districts of Andhra Pradesh with an annual production of 121 m.kg (2021-22) grown in an area of 66,000 ha.
FCV tobacco is the major exportable tobacco variety of the total unmanufactured tobacco exports from India. Out of the total unmanufactured tobacco exports (excluding Tobacco Refuse), FCV tobacco exports accounted for 53.62 per cent in terms of quantity and 68.47 per cent in terms of value during FY 2021-22.
FCV Tobacco growers sell their produce through e-auction platform developed and operated by Tobacco Board, through a transparent process ensuring fair and remunerative prices to farmers.
The interest-free loan to the eligible FCV Tobacco farmers will be administered by the Tobacco Board, a statutory body under the Ministry of Commerce and Industry, Government of India.
This report is filed by ANI news service. TheNewsMill holds no responsibility for this content.