Tobacco Selling Season Ends On 31 July

The tobacco auction floors will be closed on 31 July, officially marking the end of the 2023 tobacco selling season, the Tobacco Industry and Marketing Board (TIMB) has said.

In a statement issued on Monday, 24 July, TIMB said final mop-up sales for the auction system would take place on 30 August. It said:

After consultations with all stakeholders, the Board wishes to advise that the official date of closure for the 2023 auction floors is 31 JULY.

However, growers will still be able to sell their auction tobacco through a mop-up sale.

The final auction clean-up sales will be held on Wednesday 30 August 2023.

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TIMB said contract sales will continue to operate until such a time when individual contractors have fully received all their tobacco.

According to statistics released by TIMB on day 92 of sale, a total of 291.1 million kg of tobacco worth US$882.2 million had been sold at an average price of $3.03 per kilogramme.

Of the total volume of tobacco sold to date, 271.2 million kg were sold via the contract system while the remainder went under the hammer.

More: Pindula News