tobacco selling 2011.jpgNearly 90 000 bales of tobacco valued at US$29 million have so far been sold under both the contract and auction system since the beginning of the marketing season.

According to statistics released by the Tobacco Industry and Marketing Board (TIMB) this Wednesday a total of 89 452 bales of tobacco valued at US$29 million have so far been sold.

Eight million kilogrammes of the golden leaf from both the auction and contract system have been sold at an average price of $3.59 per kilogramme.

This translates to a 32% increase when compared to last year’s figure of six million kilogrammes sold during the same period.

However, a total of 5 594 bales have also been rejected since the start of the season, chief among the reasons being bad handling of the crop.

TIMB statistics also show that by the close of business after Wednesday’s sales, the Tobacco Sales Floor had sold 1 195 bales, Boka 1 960, while Millennium Tobacco Auction Floors had 486.

Premier Tobacco Floors had 384 bales.