Tobacco Worth U.S.$135 Million Auctioned

ABOUT 36 million kg of flue cured tobacco worth US$135 million have been auctioned at an average price

of US$3,70 per kg since the tobacco marketing season started in February. Last year 30 million kg with a value of US$91m had been auctioned during the same period at an average price of US$3,03 per kg.

This marks a 20,88 percent increase in deliveries and a 47,93 percent rise in the earnings.

A total of 471 087 bales have since been laid while 444 389 bales were sold with the remaining 21 525 bales getting rejected.

In the 2011 season a total of 405 509 bales had been laid at this time with 372 219 bales going under the hammer while 33 290 bales were rejected.

The four auction floors have all auctioned 15 million kg of tobacco worth US$55m.

The average price was US$3,66 per kg. All the floors have so far laid 228 413 bales, sold 211 054 bales and rejected 12 186 bales.

On the contract side a total of 21 million kilogrammes with a value of US$80m have been sold so far. The average price was US$3,74 per kg.
A total of 242 674 bales have also been laid while 233 335 bales have been sold with 9 339 bales being rejected. Tobacco Sales Floor has so far auctioned 5 million kg of tobacco with a value of US$19m.

The average price was US$3,69 per kg. TSF laid 76 404 bales, sold 70 104 bales and rejected 6 300 bales in the process. On the other hand Boka Tobacco Floors has sold 5 million kg of tobacco worth US$18m. BTF's average price was US$3,59 per kg.

BTF has laid 77 280 bales and sold 72 107 bales while 5 173 bales have been rejected. Millennium Tobacco Floors on the other hand have sold a total of 2 million kg of tobacco worth US$9m. The average price was US$3,71 per kg.

MTF laid 35 396 bales, sold 32 748 bales and rejected 2 648 bales.

Premier Tobacco Floors have sold a total of 3 million kg of tobacco worth US$9m. PTF's average price was US$3,68 per kg.

PTF laid 39 333 bales and sold 36 095 bales with 3 238 bales being rejected.

Tobacco volumes have been rising in the past few days - something analysts have attributed to a desire by farmers to sell before the Easter Holiday.

This season has seen a marked improvement in service delivery with the long queues that had become characteristic of every selling season disappearing.