tobacco graded 17.02.2011.jpgTobacco sales have to date reached $128 million as deliveries continue to increase steadily for both the auction and contract systems with farmers taking advantage of the good prices offered for the crop.

According to statistics recently released by the Tobacco Industry and Marketing Board (TIMB), by the close of sales for day 32 on Friday, a total of 34,5 million kilogrammes of the golden leaf valued at 128 million had been sold.

Auction floors have sold 14,2 million kilogrammes of the golden leaf at an average price of $3,66 per kilogrammes.

Under the contract system 20,4 million kilogrammes have so far been sold at an average of $3,74 per kilogramme.

The highest prices offered for the auction system to date remains at $4,99 while the contract system’s highest price has been $5,45.

Out of the 422 000 bales which have been sold since the start of the season, 21 000 bales have been rejected.

Total volumes and the average prices vary from each auction floor with the Millennium Tobacco Auction Floors offering the highest average price of $3,73, while the Tobacco Sales Floor’s is second offering an average price of $3,69.

Premier Tobacco Auction Floors’ average is pegged at $3,67, eight cents more than Boka which is offering an average price of $3,59 cents per kilogramme.