Tobacco Fetches Record Price in AP Auctions

Source from:  Hindu Business Line 05/19/2009

Virginia tobacco, which breached the Rs 150-a-kg mark last week, crossed the Rs 160-a-kg mark this week on Monday on the auction floors in west Godavari district of Andhra Pradesh, even crossing the highest price paid to the crop in Karnataka. The highest price was recorded on the five floors of west Godavari district (northern light soils floors) - two floors at Jangareddigudem and one apiece at Koyyalagudem, Devarpalli and Gopalapuram. Average price According to Mr V. Manmadha Rao, Regional Manager of the Tobacco Board here, Virginia tobacco fetched the highest price of Rs 162.60 a kg on Gopalapuram floor and Rs 162.40 a kg on Koyyalagudem and Jangareddigudem floors. The average price of tobacco on NLS floors shot up to Rs. 113.10 a kg in west Godavari. "This is even higher than the price paid to tobacco in Karnataka. In Karnataka, the highest price was Rs 159.40 per kg and the average price Rs 109.80 a kg," he said. On the whole, till now 86 million kg has been sold on the auction floors in Andhra Pradesh at an average price of Rs 97.77 a kg. The crop size prescribed by the Tobacco Board in the State was 170 mkg, but the actual production may be around 200 mkg. Enditem