Tanzania: Nation to Earn U.S. $188 Million From Tobacco

Source from:  East African Business Week (Kampala) 08/24/2011

Tanzania expects to earn a total of 122.5 million kgs of tobacco worth $188.800 million equivalent to Tshs 292.640 billion (exchange rate 1US$-Tshs 1550). According to Alliance One Tobacco Tanzania Ltd (AOTTL) new Managing Director Mr Mark Mason among the 122.5 million kgs, AOTTL will buy 47 million kgs. Flue Cured Virginia (FCV)'s116 Million kgs each expected av. Price of US$ 1.60 per kg with expected value of US$188.800 million equivalent to Tshs 292.640 bn (exchange rate 1US$ toTshs 1550). Dark Fire Cured (DFC)'s 4.5 Million kgs each expected av. Price of US$ 1.25 per kg with expected value of US$5.625 million equivalent to Tshs 8.718 billion. Alliance One is expected to buy 45 million kgs of FCV and 2 million of Dark Fire Cured (DFC), making a total expected volume of 47 million kgs. Buying started in the third week of May, 2011 and to date AOTTL has bought 14.5 million kgs of FCV valued at $21.225 million at an average price of US$1.46/KG and 0.05 million kgs of DFC valued at US$0.043 million at an average price of US$0.76. AOTTL embarked on three investment projects worth $10 million aimed at improving processing operations: Green leaf receiving from up country-introduction of computerized system of loading and receiving of tobacco aimed at reducing handling. Enditem