US: Burley Prices Best Since 2004

Source from:  Tobacco Journal  11/22/2012

Prices for Kentucky and Tennessee burley, currently at or near USD 2 (EUR 1.56) per pound, point to the best year for farmers since tobacco production was deregulated in 2004, the Asociated Press reported.

 

Tight supplies due in part to problems with crops in Africa and South America, and a high-quality crop contributed to high prices. Last year Kentucky burley prices averaged USD 1.75, which is the peak average since deregulation eight years ago, according to the AP.

Drought threatened this year's crop until late season rains, which experts cited by the AP said will result in average yields.

Prices this year have received a boost from bidding for limited supplies by independent leaf dealers and tobacco cooperatives, University of Kentucky agricultural specialist Will Snell told the AP. (pi) Enditem