China: Key City Completes State Purchase of Leaf Tobacco for Current Year

Source from:  TobaccoChina Online 10/17/2011

Yuxi City in southwest China's Yunnan Province - a key high-quality leaf tobacco production region - has completed the purchase of leaf tobacco from local tobacco growers under the system of State tobacco monopoly for the current year, with the amount of income of the local tobacco growers going up significantly year-on-year.

By October 5, Yuxi City had fulfilled the leaf tobacco purchase quotas allocated by the State for the current year by purchasing 1.9204 million dan (96,020 kilograms) of leaf tobacco. After selling the leaf tobacco, the local tobacco growers earned 1,831.9046 million yuan (286 million U.S. dollars) in income, an increase of 326.0246 million yuan (50.94 million U.S. dollars) over 2010, and paid 403.019 million yuan (62.97 million U.S. dollars) in taxes, up 71.7254 million yuan (11.2 million U.S. dollars) year-on-year. The process of State leaf tobacco purchase in Yuxi for the current year lasted 58 days. Of the 1.9204 million dan (96,020 kilograms) of leaf tobacco purchased, high-grade leaf tobacco accounted for 70.58 percent, medium-grade leaf tobacco 22.78 percent and low-grade leaf tobacco 6.65 percent. The average unit leaf tobacco purchase price was 19.08 yuan (2.98 U.S. dollars) per kilogram. The fulfillment of the State leaf tobacco purchase quotas for the current year has contributed to increasing both income for local farmers and revenues for the local finance. Enditem