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Edgar Vhera-Agriculture Specialist Writer
TOBACCO farmers had by Day 17 of the 2023 tobacco marketing season earned US$97 million from the sale of 32 million kilogrammes of flue cured tobacco compared to the US$100 million they had pocketed during the corresponding period last season marking a six percent decline in volumes traded and, similarly, a three percent drop in earnings.
The average price was US$2, 98 per kilogramme compared to US$2, 90 per kilogramme last year, which is a three percent change.
Auction floors have so far sold four million kilogrammes of tobacco worth US$11m while their contract floors counterparts have sold 29 million kilogrammes with a value of US$86m. This marks a six percent drop in volumes traded compared to the same period last season while farmers’ earning reflect a three percent decline.
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 standing at US$0, 10 per kilogramme.
Government’s reviewing of last season’s foreign currency retention percentage from 75 to 85 this year has seen growers pocketing US$82 million with the balance being paid in local currency at the prevailing interbank rate.
There has been a 31 percent rise in bale rejections prompting stakeholders to air their concerns calling 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.
Different stakeholders are still expecting the country to achieve 230 million kilogrammes of the golden leaf this season.
Online Reporter