Flue-cured prices in Karnataka, India, have risen sharply this year with the highest bid during the 51 days of auctions up to Nov. 8 having reached INR176.40 per kg, according to a story in the latest issue of the BBM Bommidala Group newsletter.
By Nov. 8, growers had sold 38.12 million kg of the 100 million kg thought to have been produced in Karnataka this year.
In early December 2012, with 28.47 million kg of tobacco having been sold, the top bid had reached INR149.80 per kg.
This season, top-grade bright varieties are said to be fetching an average price of INR164.94 per kg, up 24 percent on that of last year.
Prices for medium-grade varieties, which are averaging INR141.91 per kg, are increased by nearly 21 percent on those of last year.
The high prices this year are said to have been encouraged by the high level of demand for quality leaf.
Last year also saw a surge in prices, but in that case the increase was put down mainly to the introduction of the e-auction system.
Category: Breaking News