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WORLD DEVELOPMENTS
Republic of Korea: Tobacco Update, December 30, 1999. Unmanufactured tobacco production increased nearly 15 percent in 1999 over last year due to favorable weather conditions. Procurement prices were on the average 2.9 percent higher than last year. Stock levels in 1999 are higher than previous estimates but still remain lower than 1998. For the complete report go to: KS9105
Argentina: Tobacco Semi-Annual, December 28, 1999. Argentine leaf production for 2000 is forecast to drop to 103,800 metric tons. Large world stock levels including high production levels in Brazil pushed local prices and planting levels lower. Exports are forecast at 56,000 tons, down from last year due to lower production levels. For the complete report go to: AR9091
European Union: Tobacco Annual, December 23, 1999. Beginning with the 1999 tobacco harvest, EU support payments are determined by tobacco quality. Part of the premium is linked to the value of the tobacco produced. Measures are also underway in the EU with regard to public health protection through the prevention of smoking. For the complete report go to: E29134
Brazil: Tobacco Semi-Annual, December 21, 1999. Brazil's unmanufactured tobacco production estimate for 1999 has been revised upward from previous reports to 595,000 metric tons, farm sales weight. Higher yields in the south account for much of this increase. Production next year is forecast to reach 541,000 tons due to lower planting levels. Exports for 1999 and 2000 are forecast to remain stable at 318,000 and 320,000, respectively. For the complete report go to: BR9026
Canadian Flue-Cured Auction Update: Through the 65th sale day of the 1999/2000 Canadian flue-cured tobacco marketing season, the Ontario Flue-Cured Tobacco Growers’ Marketing Board reports that 41,532 metric tons of flue-cured tobacco have been sold as compared to 39,639 tons for the same period last year. This is a nearly 5-percent increase in sales compared to the same period of last year. Prices in Canadian currency are averaging $3.51 (US$2.44) per kilogram, slightly lower than last year. So far this year, sales of "A" graded leaves account for about 67 percent of purchases, down from 69 percent last year.
U.S. DEVELOPMENTS
Secretary Glickman Announces $328 Million to Assist Tobacco Farmers. For complete report go to FSA PR # 0328.htm
U.S. Tobacco Industry to Buy 242.5 Million Pounds of 2000 Burley Tobacco. For complete report go to FSA PR # 1411.htm
U.S. Burley and Dark Leaf Tobacco Auction Update: Through the fifth week of the 1999/2000 U.S. burley and dark leaf auction season, sales of type 31 burley tobacco totaled 227,679 metric tons, down 8 percent from the same period a year ago. Prices are reported to be averaging $1.90 per pound, a slight decrease from the same period last season. Loan receipts so far this season remain high and are averaging 37 percent of gross sales. Approximately 87 percent of the 1999 burley crop has been sold at auction. For the complete report go to the AMS market news reports - tobacco.
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