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INDIA

Tobacco auctions to begin 15 March

11 Feb 2021. The tobacco board has decided that the tobacco auctions for the coming sale season will begin on 15 March in Andhra Pradesh, reports The Times of India.

The first phase of the tobacco auctions will see Flu-Cured Virginia (FCV) sold across eleven platforms with the second phase commencing on 24 March in the remaining six platforms.

According to The Times of India, the tobacco board has authorized 115 million kg of crop in Andhra Pradesh for the 2020-21 season. Due to the experience of last year where the completion of sales took over six months, the board has decided to launch the auctions in the middle of March.

As the worldwide markets have recovered and began to resume operations, tobacco growers are hopeful of getting good prices for their leaf. This is also down to high prices offered in Karnataka where growers reached a record average price of INR 177 (USD 2.43) per kg for the bright grades, according to the The Times of India. The tobacco board reported around 60 million kg of sold stock in Karnataka and are hopeful of winding up the sale process there before the auctions open in Andhra Pradesh.