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LATEST statistics from the Tobacco Industry Marketing Board (TIMB) show that at least 372,325 kilogrammes of flue-cured tobacco had been sold through both the auction and contract floors as at the close of last week.
The figure represents a 50 percent decline in tobacco sales compared to the same period of last year’s 745,760 kilogrammes.
A total yield of 190 million kilogrammes is expected this year, down from the 216 million sold last year, the TIMB has since said.
Most of that tobacco has been purchased by the auction floors, with Tobacco Sales Floor (TSF), Boka Tobacco Floors (BTF) and Premier Tobacco Floor (PTF) taking a combined 366,348 kilogrammes, compared to the 5,977 kilogrammes bought by contract floors.
A total of 157,412 kilogrammes of tobacco was bought by BTF, followed by TSF with 127,094 kilogrammes and PTF’s 81,842 kilogrammes.
The total tobacco sold so far amounts to $553,184 kilogrammes being bought at an average price of $1,49 per kg compared to $1,7 million bought last year during the same period at an average price of $2,41 a kilogramme.
Tobacco farmers briefly walked out of the first auction of the selling season last Wednesday in protest over disappointing low prices for one of the country’s major industries.
Meanwhile, the figures show that a total of 5,494 bales were sold this season with 1,095 rejected while last year 10,155 bales were sold and a total of 858 were rejected in the prior comparable period.
The highest price of tobacco sold this season was $4,95 and the lowest price was $0,10 per kilogramme, while the highest price in 2014 during the opening week was $5,40 with $0,20 being the lowest. — BH24
Online Reporter