Tobacco prices continue to firm
Source: Tobacco prices continue to firm | The Herald
Agriculture Reporter
Tobacco prices offered by merchants at the auction floors have continued to firm, with an average price of US$2,76 per kilogramme recorded at the conventional sales, compared to US$2,65 per kilogramme at the contract floors.
The Tobacco Industry and Marketing Board (TIMB) sales statistics indicate that the highest price of US$6,70 per kilogramme was offered at the contract floors, while auction floors have continued to register a highest price of US$4,99 per kg.
By day 27, farmers had sold 90,2 million kilogrammes worth US$240 million through both auction and floors at an average price of US$2,66 per kg compared to US$2,27 per kg same period last year.
Contracted growers have sold 84 million kilogrammes worth US$223 million since the opening of the marketing season last month.
Farmers who grew tobacco using own proceeds have sold 6,1 million kg valued at US$17 million.
About 200 million kilogrammes of tobacco are expected to pass through hammer this season through both auction and floors at an average price of US$2,66 per kg compared to US$2,27 per kg same period last year.
Contracted growers have sold 84 million kilogrammes worth US$223 million since the opening of the marketing season last month.
Farmers who grew tobacco using own proceeds have sold 6,1 million kg valued at US$17 million.
About 200 million kilogrammes of tobacco are expected to pass through hammer this season.
