Maravi

(HERALD) Over 70m kg tobacco sold so far

Over 70m kg tobacco sold so far
Agriculture Reporter
Monday, 09 May 2011 21:17

A total of 70,8 million kilogrammes of tobacco worth US$195m have so far been sold at the country's four floors, the Tobacco Industry and Marketing Board has revealed.
This marks a 37,74 percent change from last year in which 51,4 million kilogrammes of the golden leaf with a value of US$160m were sold during the same period.
The average price for this season has been US$2,75 per kilogramme while that of last year was US$3,10.

So far, a total of 943 630 bales have been laid with 875 861 going under the hammer while 67 769 have been rejected. Last year a total of 714 664 bales were laid and 657 446 were sold with 57 218 being rejected during the same period.

Tobacco Sales Floor has sold a total of 21,5 million kilogrammes with a value of US$55m at an average price of US$2,53.

"TSF has laid 336 270 bales, sold 304 829 and rejected 31 441 while Boka Tobacco Floors has sold 8 million kilogrammes worth US$18m at an average price of US$2,21 per kilogramme.

"The total bales laid are 124 296 and 110 083 have been sold while 14 213 have been rejected," reads the TIMB statement.

Millennium Tobacco Floors have so far sold 4m kilogrammes of tobacco worth US$9m at an average price of US$2,20 per kilogramme. MTF has laid 57 940 bales, sold 54 467 and rejected 3 473.

The three auction floors have all sold a total of 37,4m kilogrammes with a value of US$81m at an average price of US$3,05.

A total of 425 124 bales were laid under the auction sales with 406 482 going under the hammer and 18 642 being rejected.

Under the contract sales, a total of 37,4m kilogrammes with a value of US$114m have so far been auctioned at an average price of US$3,05.

A total of 425 124 bales have been laid while 406 482 have been sold with 18 642 rejected.

This year's marketing season has seen an unprecedented rise in the number of growers selling their produce, which has created a lot of pressure and challenges for the auction floors.

Tobacco deliveries were at one point temporarily put on hold to create room for the clearing of the huge volumes that had accumulated at the floors.

A total of 170 million kilogrammes of the golden leaf are expected to go under the hammer this year.

Labels: TOBACCO, ZIMBABWE

posted by MrK @ 4:35 PM