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WORLD DEVELOPMENTS
Zimbabwe: Total leaf production is forecast to reach 70,000 tons in 2003 compared to 148,000 tons in 2002. The 53-percent reduction is due to the Government’s controversial land resettlement policy, which ended recently. Sources estimate that only 330 commercial tobacco farms remain from 1,580 tobacco farms in 2001/2002.
Canadian Flue-Cured Auction Update: Through the 55th sale day of the 2002/2003 Canadian flue-cured tobacco marketing season, the Ontario Flue-Cured Tobacco Growers’ Marketing Board reports that 25,388 metric tons of flue-cured tobacco have been sold. This is a 3- percent decrease in sales compared to the same period of last year. Prices in Canadian currency are averaging $3.97(US$2.52) per kilogram, up 4 percent from a year ago. So far this year, sales of "A" graded leaves account for 72 percent of purchases, unchanged from the same period last year.
U.S. DEVELOPMENTS
U.S. Tobacco Industry To Buy 283.3 Million Pounds of 2003 Flue-Cured Tobacco: USDA announced that U.S. cigarette manufacturers plan to purchase 283.3 million pounds (farm sales weight) of 2003-crop flue-cured tobacco. In 2002, manufacturers’ intended purchases totaled 310 million pounds. PR#1709.02
Provisions of the 2003-Crop Flue-Cured Tobacco Program and No-Net-Cost Assessments: USDA announced that the national marketing quota for the 2003 crop of flue-cured tobacco is 526.3 million pounds, down from the 2002 quota of 582 million pounds. PR#1724.02
USDA Issues 2002 Grade Loan Rates for Cigar Binder Types 54-55 Tobacco: The USDA’s Commodity Credit Corporation issued price support loan rates for the grades of 2002 crop cigar binder tobaccos, types 54 and 55. The 2002 rates are based on the average support level of $1.286 per pound announced March 1, 2002, for types 54 and 55 and 42-44. This reflects an increase of 3.4 cents per pound from the 2001 crop support level. PR#1722.02
2002/2003 U.S. Burley Auction Update: Through the sixth week of the burley tobacco auction season total gross sales (auction and contract sales combined) reached 217.7 million pounds, averaging $1.97 per pound. Over 70 percent of the effective quota has been sold at auction. AMS.MNCS/Index.htm
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