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Precious Manomano Herald Reporter
Tobacco farmers have so far received US$755 million of tobacco from the sale of 219 million kg that have been delivered to the auction and contract floors.
This is slightly lower than the US$859 million that they received from the sale of 378 million kg during the same period last year.
This year’s target is 265 million kg which is far below the 297 million kg received last season.
This year’s crop was affected by the El Nino induced drought. Statistics from the Tobacco Industry and Marketing Board (TIMB) indicate that 12, 6 million kg have so far been delivered to the auction floors and 206 million kg have been delivered to the contract floors.
The average price has increased from US$3,03 to US$3,44 this season.
The highest price is US$6,99, compared to US$6,10 from last year.
At least 88 248 bales have been rejected so far, compared to 99 404 bales from last season.
Online Reporter