Business

Tobacco earnings 35% lower than last year’s

As the tobacco marketing season continues, tobacco farmers have only managed to earn the country $104 million compared to $161 million the crop earned during the same period last year. This represents a decline of 35 percent.

Recent statistics from Tobacco Control Commission (TCC), show that so far, 69.4 million kilogrammes of tobacco have gone through the auction against last year’s 94.8 million kilogrammes representing a drop of 27 percent.

The statistics show that burley tobacco, which is mostly grown by small scale farmers has contributed $7.2 million, 55 percent below last year’s $16.3 million on the auction market.

The volumes traded for burley stand at 7.8 million kilogrammes against last year’s 10.8 million kilogrammes representing a 28 percent drop.

The average price for burley tobacco was at $1.50 per kilogramme last year while this year, it is at $0.93 per kilogramme.

On the contract market, farmers are getting better price for the same burley as average prices stand at $1.41 per kilogramme while last year, the average price was at $1.66 representing a 15 percent drop.

Contract burley has earned the country $51 million as compared to last year’s $78 million.

Tags
Show More

Related Articles

Back to top button
Close
Close