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Agriculture Reporter
DAY 22 of the 2023 tobacco marketing season saw farmers pocketing US$168 million from the sale of 56 million kilogrammes of flue cured tobacco marking a 9, 7 percent rise compared to the US$154 million generated from the sale of 52 million kilogrammes during the corresponding period last season, representing a seven percent rise in volumes traded.
The average price was US$2, 99 per kilogramme compared to US$2, 94 per kilogramme last year, indicating a one percent change.
Auction floors have so far sold five million kilogrammes of tobacco worth US$16m while contract floors have sold 50 million kilogrammes worth US$56 million.
The highest price recorded so far has been US$5, 60 per kilogramme at the contract floors with the auction side recording US$4, 99 per kilogramme. Last year’s highest price was US$6, 50 per kilogrammes at the contract floors with the lowest price standing at US$0, 10 per kilogramme.
The Government’s move to review last season’s foreign currency retention percentage from 75 to 85 this year has seen growers pocketing US$126 million with the balance being paid in local currency at the prevailing interbank rate.
There has been a 17 percent rise in rejected bales from 20 144 to 23 648 bales prompting stakeholders to air their concerns on the escalating trend and call on farmers to properly grade their tobacco.
The average bale weight has shown a seven percent increase to 80 kilogrammes up from 76 last season.
With the marketing season showing all the signs of being a good one, different stakeholders are still backing their projections for the country to achieve 230 million kilogrammes of the golden leaf this season.
Online Reporter