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Precious Manomano
Herald Reporter
Tobacco farmers continue to benefit from the fruits of their labour and have so far pocketed US$783 million from the sale of over 228 million kg of tobacco delivered to the auction and contract floors.
However, this is slightly lower than the US$886 million that was received from the sale of 292 million kg over the same period last year.
This year’s target is 265 million kg, which is below the 297 million kg received last season.
This year’s crop was largely affected by the EL Nino-induced drought.
Statistics from the Tobacco Industry and Marketing Board (TIMB) show that 13,5 million kg of tobacco have so far been delivered to the auction floors while 215 million kg have been delivered to the contract floors.
The average price has increased from US$3,03 to US$3,43 this season.
The highest price is US$6,99, compared to US$6,10 from last year.
A total of 94 000 bales have been rejected so far, compared to 101 000 bales that were rejected during the same period last season.
Online Reporter