Maravi

(HERALD) 783 000kg tobacco goes under the hammer

783 000kg tobacco goes under the hammer
Saturday, 18 February 2012 00:00
Agriculture Reporter

MORE than 783 000 kg of tobacco have been sold so far this season through auction and contract sales. This is an increase of 30 percent from last year's volumes of 600 550 tonnes. The bulk of the tobacco has been sold under the contract sales.

So far, 452 615 kg of the golden leaf have been sold under contract while 330 825 kg were sold through auction. Latest statistics from the Tobacco Industry and Marketing Board indicate that the average price is US$3,67 per kg, an increase from last season's US$2,37 per kg.

Contractors, TianZe have bought 152 062 kg worth US$599 000 at an average price of US$3,94 per kg while the Zimbabwe Leaf Tobacco have bought 18 870 kg worth US$66 561.
Northern Company has bought 279 503 kg worth US$988 935 at an average price of US$3,54 per kg.

On the auction sales, the Tobacco Sales Floor has the highest volumes of tobacco sold so far. TSF has sold 177 655 kg worth US$627, 941, Boka Tobacco Floors have sold 110 553 kg worth US$412 014.

Millennium and Premier Tobacco Floors have sold 35 633 kg and 7 000 kg of tobacco respectively. The tobacco selling season opened on Wednesday with most farmers expressing satisfaction at the prices being offered by buyers.

On the other hand, buyers were also happy with the quality of the crop that was presented for sales.

This season about 150 million kg of the golden leaf are expected to go under the hammer.

Labels: TOBACCO

posted by MrK @ 2:34 PM