TOBACCO REVENUE DECLINES

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TOBACCO VOLUME sold has seen a decrease from 12.5 million kilograms in week 9 to 11.5 million kilograms in week 10, a weekly tobacco update by the Tobacco Control Commission has revealed.

The development follows a reduced number of bales offered for sale in week 10.

This has however, led to a negative wave effect on earnings which has decreased from $22.8 million to $21.2 million.

The selling average price has increased in week 10 to $1.85 per kilogram from $1.69 per kilogram in the previous week.

The update illustrates the availability of an improved participation of merchants on Flue Cured and Dark Fired auction sales as a factor which boosted competition.

As a result, a reduction of no-sale rejection emerged from an average of 50 percent to 20 percent in week 10.

The reduction in no sale rejection means a lot of tobacco will be sold in the week under review.

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