NEW: Tobacco farmers rake in US$309 million

Online Reporter

FARMERS delivering their harvest from last season’s tobacco harvest have already pocketed US$309 million during the last 30 days of the marketing season.

According to the Tobacco Industry and Marketing Board (TIMB), 86 million kg of tobacco valued at US$309 million had been sold at an average price of US$3,58 by April 26, 2024.

This shows a 19 percent increase from the US$102 million earned during the same period last year.

Auction floors have taken delivery of 4 million kg, while contractors have contributed 81 million kg.

The highest price achieved to date is US$6,99 per kg, while the lowest is US$0,10.

This marketing season’s tobacco will be lower than last year‘s 296 million kilogrammes, with experts predicting it to be around 260 million kilogrammes as a result of the EI Nino weather phenomenon that affected the output.  The 2024 tobacco marketing season started on March 13.