Zimbabwe: U.S.$26 Million Tobacco Auctioned So Far

Source from:  The Herald 03/02/2012

FLUE-CURED tobacco worth US$26 million has been auctioned since the start of the marketing season on February 15, 2012. This is an increase from last season when a total of 5,2 million kg worth US$15m was sold during the same period. The average price so far is US$3,59 per kg compared to US$2,93 during the same period last year. So far, a total of 85 242 bales have been laid at both the auction and contract floors while 79 401 bales have gone under the hammer with the remaining 5 022 bales being rejected. The four auction floors have all sold a total of 2,1 million kg worth US$8m at an average price of US$3,54 per kg. Jointly, the four floors have laid a total of 30 776 bales, sold 28 150 bales and rejected 1 807 bales. Tobacco Sales Floor has so far sold 887 882 kg of the golden leaf worth US$3,1m at an average price of US$3,53 per kg. TSF has laid 12 550 bales, sold 11 601 and rejected 949 bales. Boka Tobacco Floors on the other hand have sold 743 299 kg of tobacco with a value of US$3m at an average price of US$3,48 per kg. BTF laid 10 908 bales, sold 10 089 bales and had 819 bales rejected. Millennium Tobacco Floors sold 313 871 kg of tobacco worth US$1,1m at an average price of US$3,74. MTF laid 4 470 bales, sold 4 010 bales with 460 being rejected. Newcomers Premier Tobacco Floors have so far sold 181 546 kg of the golden leaf with a value of US$623 893 at an average price of US$3,44. PTF laid 2 848 bales, sold 2 450 bales and had 398 bales rejected. On the contract side, a total of 5 million kg of tobacco valued at US$18m have been sold at an average price of US$3,61 per kg. A total of 54 466 bales have been laid with 51 251 bales getting sold while 3 215 bales were rejected. Meanwhile, tobacco volumes at all the four auction floors have been steadily rising over the past few days with some selling between 600 and 1 000 bales per day. Cases of unregistered farmers coming to the floors with tobacco that is not booked have, however, remained the major concern at all floors. "We fear that when the marketing season gets to its peak, there are chances of chaos as the numbers of unregistered farmers would have ballooned as many will be trying to sell their produce and get cash," TSF managing director Mr James Mutambanesango said yesterday. Enditem