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Tobacco Worth US$168 Million Sold During The Ongoing 2022 Marketing Season

The Tobacco Industry and Marketing Board (TIMB) has said tobacco farmers had pocketed US$168.6 million from deliveries as of Day 23 of the current marketing season.

TIMB said 57 million kg of tobacco valued at US$168.6 million had been sold at an average price of US$2.91 per kg by April 26.

Contract farmers have delivered 52.8 million kg, while auction floors have delivered 4.2 million kg.

The auction sales were conducted at the Tobacco Sales Floor, Boka Auction Floors and Premier Tobacco Floors.

The highest price achieved to date is US$6.50 per kg, while the lowest price was $0.10 per kg.

The 2022 tobacco selling season officially opened on Wednesday, 30 March, with the first bale fetching US$4.20 per kg which is lower than the US$4.30 per kg fetched by the first bale last year.

Farmers will get 75 per cent of their payments in foreign currency and the funds are being treated as free funds.

More: The Sunday Mail; Pindula News

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