Gov’t to set new tobacco floor prices for next trading season
The National Tobacco Administration (NTA) is preparing for the next cropping season as stakeholders convene to fix appropriate floor prices for tobacco.
In a statement, the agency said the two-day biennial tripartite consultative conference which kicked off today would serve as a venue for tobacco producers and farmers to evaluate and negotiate unified costs of each type of unprocessed tobacco leaves.
Data from the NTA show that floor prices for high to medium grades of tobacco in the past two tripartite conferences in 2013 and 2015 recorded an average increase of P4.48 per kilogram for Virginia, P4.80 for Burley, and P3.88 for native type.
The new adjustments will be implemented for tobacco trading years 2018 and 2019.
The current floor prices for the highest grade of each tobacco type are P81 per kilo for virginia, P68 for burley, and P70 for native type.