Some 14,7 million kg of tobacco valued at US$53,6 million have been sold compared to 12,3 million kg last year which was valued at $37,2 million TIMB chief executive officer Andrew Matibiri said the four floors were performing well and there was no congestion compared to last year.
A total of 150 million tonnes of the crop are expected this year.
“The only issue we have now is about the delivery of tobacco before registration, but we are dealing with farmers as they come,” Matibiri said.
Matibiri said the average price for tobacco increased this year due to demand for the green leaf. The average price for flue-cured tobacco is $3,71 per kg.
With regards to burley marketing, Matibiri said they were still negotiating with potential buyers.
According to TIMB weekly report for the last two weeks of February 2012, tobacco deliveries increased to 5,2 million kg up from 1,3 million kg in the first week of the selling season.
The figure was up 4,2 million kg of tobacco sold during the same period last year.
The 2012 selling season has 40 932 registered growers of which 14 686 are newly registered farmers.
The report said both seasonal and contract prices were favourable compared to the same period last year.
Post published in: Business