Price increase approved

The National Tobacco Administration (NTA) in the Philippines approved higher minimum buying prices for tobacco for the next two years. Tobacco floor prices will increase by PHP2 ($0.04) for all types and grades after an agreement was reached between farmers and the private sector.

The price increase for Virginia, burley and native tobacco will go into effect immediately upon the approval of the NTA governing board. It will be applicable for the 2020 and 2021 trading years.