TOBACCO MARKET PROGRESS
Link to FINAL 2013 TOBACCO MARKET REPORT.
The market has this 2012/2013 season, traded 145 Million Kg of Burley at an average price of 2.01 USD per Kg. Auction sales have totaled to 44.5 Million Kg, traded at an average price of 1.95 USD per Kg; and the Contracted Burley volume of 100. 3 Million Kg, has been sold at 2.04 USD per Kg.
Flue Cured did well from the onset of the market to the end. It sold a total of 19.7million Kg at an average price of 2.87 USD per Kg. Auction sales saw 954 thousand Kg trading at an average price of 260.959 USD per Kg; and the Contracted Flue volume of 18.8 million Kg was sold at an average price of 312.476 USD per kg.
3.8 million Kg of NDDF sold at an average price of 1.94 USD per Kg. Auction sales alone had722 thousand Kg that sold at an average price of 1.73 USD per kg; and Contracted NDDF sold 3.1 million Kg at an average price of 214.054 USD per Kg
PREMIUM TAMA TOBACCO LTD ESTABLISHES A PROCESSING COMPANY
Resultant to TAMA’s strategic plan to partner with an offshore tobacco merchant which has resulted in creation of Premium Tama Tobacco Limited (PTTL), it is now pleasing to note that the company is in the process of establishing a Tobacco Processing Company. TAMA now owns 9.99% stakes in this venture.
Pursuant to the 25% stakes that TAMA has been offered, the Executive resolved to form special Purpose Vehicle (SPV) called TAMA Tobacco Processors Limited to champion the issues of share holding in the company. Continental Discount House Limited were appointed as arrangers for management of the SPV to spearhead the process. It is envisaged as per the resolutions by the Executive that TAMA members will be offered to buy shares pro-rata to their levy contribution last year’s levy as a benchmark. Council will be kept posted on the progress of the same.
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