102 million kg of tobacco goes under the hammer

the tobacco marketing season in February.
Last year 76 million kilogrammes of the golden leaf worth US$228m were sold during the same period.
This marks a percentage change of 34,66 from last year.
The average price for this year has been US$2,69 per kg while that of last year was US$3,01 per kg.
So far, 1 336 951 bales have been laid while 1 245 569 bales have been sold with 91 292 bales being rejected. During the same period last year a total of 1 028 822 bales had been laid, 938 677 bales going under the hammer while 90 145 bales were rejected.
The Tobacco Sales Floor has sold 28 million kilogrammes worth US$69 million at an average price of US$2,45 per kg.
TSF has laid 435 935 bales, sold 396 531 bales and rejected 39 404 bales. At the Boka Tobacco Floors a total of 12 million kilogrammes has been sold raking in US$27 million in the process. The average price was US$2,15 per kg.
BTF has laid 191 026 bales, sold 170 204 bales and rejected 20 821 bales. Newcomers Millennium Tobacco Floors have so far sold 7 million kg of tobacco with a value of US$16 million at an average price of US$2,21 per kg.
MTF has laid 105 043 bales and sold 98 580 bales while 6 463 bales have been rejected.
All the three auction floors have sold 48 million kilogrammes of tobacco worth US$112 million at an average price of US$2,33 per kg. The three floors have laid 732 003 bales and sold 665 315 bales while 66 688 have been rejected.
On the contract side, a total of 54 million kilogrammes with a value of US$162 million has been sold at an average price of US$3,01 per kg. A total of 604 948 bales were laid with 580 344 bales going under the hammer while a further 24 604 bales were rejected. Congestion at all the floors has been easing as both farmers and floor personnel got more organised.
The quality of the leaf has also vastly improved, a situation that has seen prices firming to a high of US$4,80 per kg after initially falling to as low as US$0,10 per kg early this season.

The country’s target of 170 million kilogrammes of tobacco this season looks set to be achieved as more tobacco continues to come.