WORLD AUCTION UPDATE:
Zimbabwe Tobacco Auction Update: Zimbabwes Tobacco Marketing Board reported that 148 million kg of flue-cured tobacco was sold after twenty weeks of the auction season for an average price of U.S.$1.51 per kilogram, down nearly 9 percent in volume and 15 percent in value for the same period a year ago. Leaf quality is described as good.
USDA Announces 2000-Crop Burley Tobacco Importer Assessment Rate: USDAs Commodity Credit Corporation announced the no-net-cost assessment rate on unmanufactured burley tobacco imported for consumption. The burley tobacco importer assessment rate is 6.0 cents per pound or 13.2 cents per kilogram. For complete report go to http://www.fsa.usda.gov/pas/news/releases/2000/09/1600.htm
U.S. AUCTION UPDATE:
U.S. Flue-cured Auction Update: Through the seventh week of the 2000 auction season, total flue-cured gross sales reached 178,386 metric tons at an average price of $3.88 per kg. This represents a slight increase in price when compared to the same period a year ago. Loan receipts so far this season reached nearly 4 percent compared to nearly 16 percent a year ago. Based on the effective quota, about 68 percent of the 2000 flue-cured crop has been sold at auction. For complete report go to http://www.ams.usda.gov/tob/mncs/index.htm.
1 Metric Ton = 2,204.622 Pounds
1 Pound = 0.0004536 Metric Tons
1 Kilogram = 2.2046 Pounds
1 Pound = 0.4535924 Kilograms
1 Hectare = 2.471 Acres
1 Acre = 0.4047 Hectares
Dry Weight (DW) = 88 to 92 percent of Farm Sales Weight (FSW) 1/
1/ Unmanufactured tobacco's conversion from dry weight to farm sales weight varies depending on a country's cultivation and processing conditions and practices. The average conversion factor ranges from 88 to 92 percent, but it can be as low as 60 percent.