Philippines: Trading Centers Start Buying Tobacco

Source from:  Manila Bulletin  03/17/2014

Trading centers in Virginia tobacco-growers areas in the Ilocos provinces have started buying farmers' products as early as the third week of February, a National Tobacco Administration (NTA) official said over the weekend.

The NTA also announced that the trading season for Burley and native tobacco begun early this month.

"Tobacco farmers in Northern Luzon are now ready to reap the result of the hard work they have put in the farms as the 2014 tobacco trading season starts," Edgardo D. Zaragoza, NTA Administrator said.

NTA expressed optimism on the success of the farmers especially with the P6 increase in the floor prices of all grades of Virginia tobacco variety and from P3 to P10 increase for the Burley and native tobacco.

The rate of high-grade Virginia leaf (AA) is now P78/kg while Burley and the native variety are bought at P61/kg and P66/kg, respectively.

Tobacco trading centers in Ilocos also buy flue-cured Virginia tobacco leaves higher than the approved floor prices.

Initially, the tobacco buying rate at the Ilocos Sur trading centers reached as high as P86 per kilogram for the prime grade of full-flavor type tobacco.

The NTA has also approved the opening of 11 trading centers in the early weeks of the trading seasons in Ilocos provinces. Enditem