Tobacco Asia

58 tobaccoasia LEAF NEWS 烟叶新闻 We'd like to let you in on an industry secret You can view the latest issue of TOBACCO ASIA magazine and TOBACCO ASIA's archived issues and searchable content at www.tobaccoasia.com All free. No passwords. No paywall. Just click and read. The Indian Tobacco Association, traders, and farmers all actively partici- pated in the meeting and suggested a bigger crop size of 170 million kg. However, the board decided to keep the same crop size as the previous year after carefully weighing various aspects, including crop estimates in Karnataka, future market trends, and export projections. In order to keep the tobacco sector stable, it was decided to restrict the crop size to 142 million kg. The board was able to make an informed decision that would protect the interests of all parties concerned by analyzing the crop estimations in Karnataka and gaining significant insights into the overall tobacco production landscape. Farmers in Andhra Pradesh are upbeat as their crops brought in a record price at the e-auctions held on 11 platforms in the Prakasam and Nellore districts. The increased price correction is the result of the cured leaves' high demand on the global market. This season many farmers in the area suffered losses due cyclone Mandous damaging at least 40% of the standing crop in 63,000 hectares in December last year. Unfazed, several growers decided to replant and filling gaps, taking a calculated risk in the process. To compensate for the losses brought on by the cyclone, those who grew chick pea also replanted tobacco to cope with the losses cause by Mandous. According to the Tobacco Board, farmers received a price of INR203.39 (US$2.47) per kg for the 88.36 million kg of output that was auctioned by mid-July, with exporters competing with domestic cigarette manufacturers to quote higher during the e-auctions. For the 76 million kg of crop sold during the previous season, farmers had only received an average price of INR172 (US$2.09) per kg. According to the Indian Tobacco Association, the market buoyancy came as a result of a 400 million kg global shortage of the cured leaves. Zimbabwe Delivers Crop Just 3% Shy of 2025 Target One week before Zimbabwe's tobacco marketing season came to an end on July 31, farmers sold 291 million kg of tobacco, just 3% shy of meeting the 2025 target of 300 million kg. This season farmers received US$882 million for their crop. The Tobacco Industry and Marketing Board (TIMB) said the official closing date for auction floors was July 31, but growers would still be able to sell their auction tobacco through a mop-up sale until August 30. Contract sales, however, would continue to operate until such a time when individual contractors fully received all their tobacco. TIMB statistics show that by Day 92, farmers had sold 271 million kg of flue-cured tobacco valued at US$825 million on contract and 20 million kg at the auction floors valued at US$57 million. Auction floor sales represented 7% of the total sales this marketing season, with an 11% drop in average auction price from US$3.21 per kg in 2022 to US$2.87 this year. Cumulative tobacco sales on both floors were 46% and 45% higher in volume and value terms, compared to the same period last year. The auction average price was US$2.87 per kg while the contract average price was US$3.04. The average price declined to US$3.03 per kg this year compared to US$3.05 last year. KTC Awarded "Best Export Performance" Khyber Tobacco company (KTC) c.e.o. Samara Irfan received the award for "Best Export Performance" from the governors of Khyber Pakhtunkhwa and Sind. KTC has worked to make sure that customers receive exceptional tobacco products at a reasonable price for nearly 60 years. KTC is one of Pakistan's largest tobacco companies and situated in the heart of the country's tobacco- growing region. Over the years, it has received numerous medals and export honors. KTC is well-known for supply- ing threshed strips/re-dried tobacco, cut tobacco blends, and manufactured cigarettes, to the UAE, South and West Africa, Sri Lanka, Jordan, and many other nations. KTC has a fully integrated produc- tion facility and years of expertise, which combined allow it to use Pakistan-pro- duced tobacco to manufacture products that meet international standards. The company was also the first company to implement a track and trace system for cigarettes in Pakistan. KTC is listed on the Pakistan Stock Exchange and has exported millions of dollars of tobacco in the last financial year. KTC contrib- uted just under PKR 4 billion to the national exchequer in taxes in FY 22/23.

• Cover