Karnataka auctions off to flying start

Flue-cured tobacco auctions in the Indian state of Karnataka got off to a record start this season, according to a story in the latest issue of the BBM Bommidala Group newsletter.

Prices were said to have touched INR150.20 per kg, a record for a first day and more than 7 percent above last season’s opening-day top-price, INR140 per kg.

Eight buying companies took part in the first day of sales, which were held across 11 platforms.

Karnataka is estimated to have produced about 120 million kg of flue-cured this year.

The Tobacco Board of India crop target had been set at 102 million kg, up from 98 million kg in 2012.