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Precious Manomano Herald Reporter
Farmers have so far delivered 148 million kilogrammes of tobacco worth US$521 million to both the contract and auction floors.
Statistics from the Tobacco Industry and Marketing Board (TIMB) indicates that 8.5 million kg was delivered at the auction floors, while 139 million kg was delivered to the contract floors.
Last season, 201 million kg worth US $604 million was delivered during the same period.
Since this year’s crop was greatly affected by the El-Nino induced drought, a target of 265 million kg is expected, which is far below the 297 million kg obtained last year.
The average price has increased from last year’s US$3.00 to US$3.53 this season.
The highest price has been US$6.99, compared to US$6.10 last year.
So far, rejected bales are sitting at 52 969, compared to the 66 985 recorded last season.
Online Reporter