Maravi

(HERALD) Tobacco sales hit US$290m

Tobacco sales hit US$290m
Saturday, 11 June 2011 00:22
Agriculture Reporter

ABOUT 107 million kilogrammes of flue cured tobacco with a value of US$287 million have been sold since the tobacco marketing season opened in February. Last year a total of 80 million kilogrammes of tobacco with a value of US$239m were sold during the same period. This marks 33,54 percent increase.

The average price for this year has been US$2,69 against last year's US$3. Statistics from the Tobacco Industry and Marketing Board indicate that this year 1 393 558 bales have been laid with 1 298 880 going under the hammer while 94 678 have been rejected.

Last year, 1 082 394 bales were laid while 987 589 bales were sold with 94 805 bales being rejected.

The three auction floors have so far sold a total of 49 million kg with a value of US$117m at an average price of US$2,35.

To date, 756 972 bales have been laid, while 687 813 bales have been sold and 69 159 bales have been rejected.

On the contract side 58 million kilogrammes of the golden leaf with a value of US$170m have been sold at an average price of US$2,99.

This has also seen a total of 636 586 bales being laid while 611 067 bales were sold and 25 519 bales being rejected.

Tobacco Sales Floor has so far sold 29 million kilogrammes of tobacco with a value of US$76m at an average price of US$2,46.

TSF has laid 447 413 bales, sold 406 773 bales and rejected 40 635 bales in the process.

Boka Tobacco Floors on the other hand sold 13 million kg of tobacco with a value of US$28m at an average price of US$2,18.

BTF laid 197 801 bales and sold 176 310 bales while 21 491 bales were rejected.
Millennium Tobacco Floors have so far sold 8 million kg of tobacco with a value of US$18m at an average price of US$2,26.

MTF have so far laid 111 758 bales with 104 726 bales going under the hammer while 7 033 bales have been rejected.

Order has finally returned to the floors after weeks of chaotic developments that saw farmers threatening to withhold their tobacco.

The long queues that marked the opening of the season have since disappeared to be replaced by orderly marketing.

This year the country expects 170 million kg of the gold leaf to go under the hammer.

Labels: TOBACCO

posted by MrK @ 5:16 PM