After years of underproduction of tobacco, local farmers are now facing a downturn following a season of bountiful yields that has resulted in 15.8 percent overproduction.
The market started on a poor note Monday when over 90 percent of tobacco bales at Kanengo Auction Floors were rejected by buyers.
The market opened with the highest price registered at just $2.50 per kilogramme (kg), the lowest opening day price in recent years and only slightly above last year’s average price of $2.45.
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