Karnataka tobacco sale kicks off on high note
In the first 23 days of trading over the period September 7 to October 7, transactions in the Karnataka tobacco auctions are up 55% in quantum and 38% in value, when compared with the corresponding period of the previous year.
By Raghu Krishnan, TNN |
BANGALORE: In the first 23 days of trading over the period September 7 to October 7, transactions in the Karnataka tobacco auctions are up 55% in quantum and 38% in value, when compared with the corresponding period of the previous year.
On October 7, 15.5m kg have been sold since this year’s Karnataka auctions commenced on September 7, at an average price of Rs 63.1 a kg. Some 10.1m kg were traded for an average price of Rs 45.6 a kg in the corresponding period of ’05.
Industry sources say growers are happy with the market price and that the visit by major foreign buyers in November is expected to give a further fillip to the positive mood.
In terms of varieties, almost 5.9m kg of the most sought after bright grades have been traded for an average per-kg price of Rs 67.5 (up from 2.7m kg, averaging Rs 58.4 in the corresponding period of the previous year). Some 6.3m kg of medium grades have been sold at an average of Rs 63.9 a kg (4.3m kg for Rs 48.4). Some 3.3m kg of low grades have been traded for Rs 53.2 a kg (up from 2.9m kg for Rs 29.8).
The authorised crop for this season is 82.1m kg, down from 84.2m kg. This year the acreage under tobacco in the Karnataka Light Soil (KLS) region is 78,000 ha, up from 73,890 ha. The number of curing barns has gone up this year to 65,342, up from 56,593.
The number of growers has gone up marginally to 40,544, up from 40,527. Since tobacco is a regulated commodity, the crop is authorised and auctions are conducted by the Tobacco Board.
On October 7, 15.5m kg have been sold since this year’s Karnataka auctions commenced on September 7, at an average price of Rs 63.1 a kg. Some 10.1m kg were traded for an average price of Rs 45.6 a kg in the corresponding period of ’05.
Industry sources say growers are happy with the market price and that the visit by major foreign buyers in November is expected to give a further fillip to the positive mood.
In terms of varieties, almost 5.9m kg of the most sought after bright grades have been traded for an average per-kg price of Rs 67.5 (up from 2.7m kg, averaging Rs 58.4 in the corresponding period of the previous year). Some 6.3m kg of medium grades have been sold at an average of Rs 63.9 a kg (4.3m kg for Rs 48.4). Some 3.3m kg of low grades have been traded for Rs 53.2 a kg (up from 2.9m kg for Rs 29.8).
The authorised crop for this season is 82.1m kg, down from 84.2m kg. This year the acreage under tobacco in the Karnataka Light Soil (KLS) region is 78,000 ha, up from 73,890 ha. The number of curing barns has gone up this year to 65,342, up from 56,593.
The number of growers has gone up marginally to 40,544, up from 40,527. Since tobacco is a regulated commodity, the crop is authorised and auctions are conducted by the Tobacco Board.
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