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WORLD DEVELOPMENTS
Highlights:
Argentine unmanufactured tobacco production is booming due to strong foreign demand and high farm-gate prices. Total unmanufactured tobacco production in 1998 is expected to reach 143,500 metric tons, up 16 percent from 1997. Burley tobacco production is forecast at 44,500 tons, up 24 percent, while flue-cured production is expected to reach 88,000 tons, up 16 percent. Burley exports are predicted to increase 20 percent to 18,000 tons. However, flue-cured exports are projected to drop nearly 5 percent. Flue-cured and burley imports are predicted to drop in 1998 due to increase tobacco production.
Through the 19th sale day of the 1997/98 Canadian flue-cured tobacco marketing season, the Ontario Flue-Cured Tobacco Growers Marketing Board reports that 12,077 metric tons of flue-cured tobacco have been sold. This represents a 4 percent decrease in sales when compared to the same period of last year's marketing season. Prices in Canadian currency so far this year are averaging $3.64 (US$2.58) per kilogram, up nearly 2 percent from last year. So far this year, sales of "A" graded leaves account for over 70 percent of purchases, up from 64 percent last year.
Canadian Flue-Cured Auction Update Sales Day 19 November 7, 1997 |
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Quantity in Metric Tons |
Average Value per Kilogram (US $ equivalent)* |
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1996/97 |
1997/98 |
1996/97 |
1997/98 |
12,520 |
12,077 |
US$2.61 | US$2.58 |
| Source: Ontario Flue-Cured Tobacco Growers Marketing Board. | |||
* Exchange Rates:
1996/97 U.S.$ = CA$ 1.37
1997/98 U.S.$ = CA$ 1.41
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