India: ''Complete Transparency'' at E-auctions

Source from:  Tobacco Reporter  12/12/2013

Tobacco growers in the Indian state of Karnataka have sold more than 53.41 million kg of flue-cured at an average price of Rs137.35 per kg, according to a story in the latest issue of the BBM Bommidala Group newsletter.

At the same stage of the 2012-13 sales season, growers in the state had sold 43.52 million kg for an average price of Rs121.45 per kg.

K. Narasimhaiah, regional manager with the Tobacco Board of India, said there had been complete transparency at the e-auctions and that growers were realizing better prices this season.

"CCTV cameras are being installed on all the platforms and the entire auctions are being recorded," he was quoted as saying.

Average prices were as follows: bright grades Rs164.00 per kg (Rs140.00 per kg in 2012-13); medium grades Rs146.75 per kg (Rs128.00 per kg); and low grades Rs91.23 per kg (Rs89.85 per kg).

Although the board had previously said it was going to try to complete the Karnataka sales in January; it now says the auctions will continue to about the end of February. Enditem