Universal Leaf Tobacco Magyarország expects to reduce growing areas and buy less crop again this year due to oversupply, the Budapest Business Journal reported.

Last year ULT Magyarország reduced purchases of Virginia and burley tobaccos from Hungarian farmers by 30 per cent to 6,100 tons. This year’s expected volume is 4,500 tons, the newspaper said, citing an MTI news agency report. “A large part” of the harvest from the past two years remains unsold, said ULT Magyarország CEO Imre Bittner, as cited by MTI.