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WORLD DEVELOPMENTS
Indonesia: The Government of Indonesia increased the excise duty and minimum retail price of cigarettes. However, the excise duty for hand-rolled clove cigarettes and white cigarettes remain unchanged. ID2032
Canadian Flue-Cured Auction Update: Through the 39th sale day of the 2002/03 Canadian flue-cured tobacco marketing season, the Ontario Flue-Cured Tobacco Growers Marketing Board reports that 16,610 metric tons of flue-cured tobacco have been sold. This represents a 9-percent decrease in volume when compared to the same period last year. Prices in Canadian currency so far this year are averaging $3.90 (US$2.43) per kilogram, up from $3.79 (US$2.35) per kilogram last year. So far this year, sales of grade "A" leaves account for almost 72 percent of purchases, down 2 percentage points from the same period last year.
U.S. DEVELOPMENTS
USDA Announces Changes in Producer Assessments for 2002-Crop, Air-cured Type 35 Tobacco: USDA announced the new no-net-cost assessment for producers growing 2002-crop Kentucky and Tennessee dark air-cured (type 35) tobacco. The new assessment reduced Eastern Dark Fired tobacco by 3 cents and Western dark fired tobacco by 4 cents from the original assessment set March 1, 2002. FSA PR#1687.02htm
USDA Issues 2002 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 2002-crop of Kentucky and Tennessee dark, air-cured tobacco, types 35 and 36; and fire-cured tobacco, types 22 and 23. Price support grade loan rates for dark air-cured tobacco will range from 40 cents to $2.58 per pound. Loan rates for fire-cured will range from 53 cents to $2.57 per pound. FSA PR#1682.02.htm
Auction Reports:
2002/2003 U.S. Burley Auction Update: The 2002/2003 burly auction marketing season began November 18. Gross auction sales for the first week totaled 17 million pounds averaging $1.95 per pound, down 26 percent in quantity and unchanged in value from the same period last year. Some tobacco was rejected by the tobacco companies because of excessive moisture. Contract sales so far this season totaled 55.9 million pounds averaging $1.98 per pound. Approximately 24 percent of the estimated production has been sold so far this season. AMS.MNCS/Index.htm
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