Figures from Auction Holdings Limited show that collective tobacco sales for the last 7 seven weeks are at $62.3m, made from selling 41.1 million Kilogrammes (kgs) at an average price of $1.52 per kg.
While the prices have improved compared to last year’s market, the earnings are lower in comparison to the week in review last year, which registered $62.9 million.
The green gold market is still enduring a 40% rejection rate, as was the same during the same week last season. Tobacco Commission (TC) Corporate Planning and Development Manager, Hellings Nason, said average prices for this year have been steady, so the market has seen improvement regardless of the high rejection rates.