Home » Business » Tobacco Auction Floors Close Friday

The 2014 flue cured tobacco selling season will close next week, earlier than the previous seasons with deliveries expected to surpass 200 million kilogrammes.

Auction floors normally close in July.

Due to the high deliveries being received at the contract floors, sales will continue until further notice. Tobacco Industry and Marketing Board chief executive officer Andrew Matibiri said this season has been fast.

“The flue cured tobacco marketing season will close on Friday June 27 with final deliveries accepted on Thursday 26 June.

“All growers who sell on auction floors are therefore aised to complete their grading and baling operations by Wednesday 25 June at the very latest.

“Most farmers have delivered their crop for sale and we are confident that the tobacco deliveries will surpass 200 million kgs,” he said.

The flue cured auction tobacco clean up sale for the 2014 marketing season will be held on July 15.

Statistics from the TIMB show that 194 million kgs of flue cured tobacco worth $619 million has been sold since the opening of selling season in February.

This is an increase of 32 percent from the 147 million kg of tobacco worth $543 million sold same period last year.

Last season 166 million kgs of tobacco were sold.

Source : The Herald