Flue-cured tobacco prices at the continuing auctions in the Indian state of Karnataka have surged by about 10 per cent across all platforms, according to a story in the latest issue of the BBM Bommidala Group newsletter.
The price surge seems to be being attributed mainly to the introduction of the e-auction system.
The e-sales had brought in transparency and were benefitting the small and medium farmers the most, Tobacco Board officials were quoted as saying.
The bright leaf grade that was trading previously for more than Rs139 per kg was now fetching about Rs150 per kg, the officials said.
The auction prices were truly reflecting market demand and the superior quality of leaf being brought to the platforms, they added.
The story said that ‘so far’ a total of 28.47 million kg of tobacco had been sold, with the season’s highest bid having reached Rs149.80 per kg.
Category: Breaking News