The Flue Cured Virginia (FCV) tobacco has fetched a record average price of ₹179.19 per kg during the auction in Andhra Pradesh.
In the season that ended in July, 121 million kg tobacco was sold across the auction platforms. The auction of the tobacco produced in Northern Light Soils, Southern Light Soils and Southern Black Soils in the Prakasam and twin Godavari districts was completed within 100 days, creating a new record in the history of the Tobacco Board.
Buoyed up by the unprecedented revival of demand for quality tobacco and the passing away of uncertainty triggered by the COVID-19 pandemic, the FCV variety fetched good prices this season.
Tobacco Board Executive Director Addanki Sreedhar Babu said that this was the highest average price fetched. He attributed it to the well-coordinated approach and rationalisation of auction platforms. The produce was sold at ₹171.17 per kg in Prakasam and Nellore region this time, ₹31.87 more (22% higher) than the prices fetched during the previous season.
The record prices during the auctions also mean the country has earned higher foreign exchange of $1,152 million.
The Tobacco Board felicitated the auction platform managers at a programme organised as part of the ‘Azadi ka Amrit Mahotsav’ celebrations on Wednesday.