Andhra Pradesh: ‘No bids' at 11 tobacco auction platforms
Despite the Board reducing the Minimum Purchase Price by Rs 10 to Rs 140 per kg, exporters and buyers remain unwilling to purchase low-grade stocks. From Friday to Monday, rejection rates ranged between 28% and 34%.
On Friday, 2,476 of 7,349 bales (33.70%) were rejected; on Saturday, 2,343 of 6,877 bales (34%) faced rejection; and on Monday, 2,054 of 7,090 bales (28.97%) were turned away.
AP Rythu Sangham State President V Krishnaiah urged the government to extend the purchase schedule until the end of September and provide a support price as per the Swaminathan Committee's recommendations. He said the burley tobacco production is estimated at 85 lakh kg, with 39.33 lakh kg still unsold.
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