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WORLD DEVELOPMENTS
Turkey: The Government of Turkey announced plans to reduce oriental tobacco production by nearly 21 percent in 2001 in order to keep stocks at manageable levels and to conform to budgetary targets which are included in Turkey's agreement with the IMF. Oriental tobacco production dropped by 22 percent in 2000. TU0051
Canadian Flue-Cured Auction Update: Through the 36th sale day of the 2000/01 Canadian flue-cured tobacco marketing season, the Ontario Flue-Cured Tobacco Growers Marketing Board reports that 22,851 metric tons of flue-cured tobacco have been sold. This represents a 6-percent decrease in volume when compared to the same period of last years’ marketing season. Prices in Canadian currency so far this year are averaging $3.71 (US$2.41) per kilogram, up from $3.43 (US$2.23) per kilogram last year. So far this year, sales of grade "A" leaves account for almost 74 percent of purchases, up 10 percent from last year.
Zimbabwe Tobacco Auction Update: Zimbabwe’s flue-cured auction season closed November 8th. Total flue-cured sales reached 234 million kilograms after 28 weeks for an average price of U.S. $1.82 per kilogram, up nearly 22 percent in volume and down 2 percent in value from the previous marketing year. Demand was reported down due to a decline in leaf quality and an increased number of bales declared defective during the auction season.
U.S. DEVELOPMENTS
Lease and Transfer of Burley Tobacco Quota Across County Lines-Final Referenda Results: The U.S. Department of Agriculture announced final results from the mail referenda held in October 2000 in the states of Indiana, Kentucky, Ohio and Tennessee. Results show burley tobacco growers voted in these states to approve lease and transfer of burley quota across county lines within these respective states beginning with the 2001 crop year. For complete report go to FSA PR#1622.htm
USDA Issues 2000 Price Support Grade Loan Rates for Dark Air-Cured and Fire-Cured Tobaccos: USDA's Commodity Credit Corporation issued price support grade loan rates for the 2000-crop Kentucky and Tennessee dark air-cured tobacco, types 35 and 36 and fire-cured tobacco, types 22 and 23. The loan rate for dark air-cured tobacco was issued at $1.481 per pound and $1.716 per pound for fire-cured tobacco. Grade loan rates for dark air-cured tobacco will range from 58 cents to $2.30 per pound, while grade loan rate for fire-cured will range from 63 cents to $2.42 per pound. For complete report go to FSA PR#1639.htm
U.S. Flue-Cured Auction Update: The flue-cured auction season ended November 2nd. Total flue-cured gross sales this year were 260,362 metric tons at an average price of $3.95 per kilogram. This represents a 20-percent decrease in volume and a 3-percent increase in price when compared to the previous year as a result a 18-percent decrease in the effective quota. Loan receipts reached nearly 5 percent of the gross sales compared to 19.3 percent gross sales of the 1999/2000 marketing year. For complete report go to AMS.MNCS/index.htm
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