Tobacco sales generate US$362m
by Business Reporter
A TOTAL of 92,6 million kgs of tobacco valued at US$362,1 million has been sold since auction floors opened in February according to figures released by the Tobacco Industry and Marketing Board (TIMB).
At least 56 million kgs were sold through the auction system while the remainder of 40,3 million was sold under individual sales.
TSF has sold the highest amount of tobacco under individual sales, taking in 13,4 million worth US$49,8 million followed by Boka Tobacco Floors with 12,4 million kg worth US$44,6 million.
Millennium Tobacco Floors has sold the least amount of tobacco so far at 6,9 million kg worth US$25,5 million.
TSF had the highest average price of US$3,71 per kg followed by Premier Tobacco Floors at US$3,68 per kg, Millennium Tobacco Floors at US$3,67 per kg and Boka Tobacco Floors at US$3,35.
A total of 150 million kg of tobacco is expected to be delivered to the auction floors.
Prices have also remained firm at the auction floors hovering above US$3 per kg despite decline in deliveries in recent days.
TIMB says the season average price was US$3,76 per kg, which is 41 percent higher than the US$2,67 per kg that was recorded during the same period last year.
In terms of the auction floors, Tobacco Sales Floors has the highest seasonal average of US$3,71 per kg followed by Premier Tobacco Floors with an average of US$3,68 per kg, Millennium Tobacco Floors US$3,67 per kg and Boka Tobacco Floors US$3,59 per kg.