Sundaymail Editor
Online Reporter
Tobacco prices continue to increase slightly although the volume sold has dropped from last season.
According to the Tobacco Industry and Marketing Board (TIMB) statistics, a total of 11 025 876 kilogrammes of tobacco had been sold as of March 14, generating US$39 073 675 in revenue.
The average price per kilogramme has risen to US$3.54, a 4.61 percent increase from last year’s US$3.39, while a 27.37 percent drop in volume has been recorded compared to the same period last year.
This suggests a potentially stronger demand for the current season’s crop.
The auction floors have seen a significant decrease in activity, with a 40.01 percent drop in bales laid and a 40.90 percent decrease in bales sold.
However, the contract sales have maintained a more stable performance.
The quality of the tobacco has come under scrutiny, with a notable rise in rejection rates, up to 3.42 percent from 1.98 percent last year.
The highest price achieved so far is US$6.30 per kilogramme
Online Reporter