Tobacco revenue has peaked at $134.9 million in 11 weeks of sales, which is 45 percent of the total projected revenue of $300 million expected this year. This represents an increase of 57 percent from $86 million realised during the same period last year.
Auction Holdings Limited (AHL) figures indicate that 70.8 million kilogrammes of the leaf has, thus far, been sold against the total output of 156 million kg at an average price of $1.91 per kg.
The revenue realised is from 63.8 million kg of burley sold raking in $116 million at an average price of $1.82 per kg, 5.9 million kg of flue cured sold at an average price of $2.78 per kg, bringing in $16.4 million and dark fired tobacco sold at an average price of $2.25 per kg, out of one million kg raising $2.4 million.
But the tobacco auctioneer says the weekly rise in burley average price witnessed since the start of the season declined in week 11 with average price staying stuck at $2.06 per kg.
“Average price for other types of tobacco rose with dark fired tobaccos recording a five percent increase, the biggest bounce in the week. Week on week comparison of average price between 2013 and 2012 season indicate a marginal better performance of 2012 season since week six,” reads part of the commentary from AHL.
It said cumulative earnings compared to the same period last year show an ‘impressive better’ performance largely because of good volumes and large average price margins up to week five.
