3 days ago
- Business
- New Indian Express
Andhra Pradesh: ‘No bids' at 11 tobacco auction platforms
ONGOLE: FCV (Flue-Cured Virginia) tobacco growers in the Southern Black Soil (SBS) and Southern Light Soil (SLS) regions have expressed concern over high rejection and 'No Bid' rates at all 11 Tobacco Board 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.
