India: Prices Stable at Karnataka Tobacco Auction

Source from:  Business Line  03/06/2013

As tobacco auctions in Karnataka enter the final phase, prices are stable over Rs 100/kg. The Tobacco Board has so far marketed about 70.61 million kg (70 per cent) of the authorised crop in Karnataka at an average price of Rs 120.58.
 
The Board is planning to complete auctions in the State by March-end. "Even at the fag end of auction season, prices are still ruling high due to quality and good export demand," said a senior Board official.
 
"After introduction of e-auction in all the 10 platforms, auctions are held without any disruptions and has brought in transparency in board's dealings with growers and traders," he added.
 
At the end of 116 days of auctions (on March 4), the board has marketed 6.64 lakh bales of FCV tobacco variety with an average price realisation of Rs 120.58 a kg.

Of the quantity marketed, bright grades comprised 24.39 per cent and traded at an average price of Rs 143.40. Medium grades comprised 49.10 per cent traded at an average price of Rs 129.16 and Low grades comprised the rest traded at an average price of Rs 26.50. Enditem