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Tobacco passes $ 2 price

Ramesh Susarla

GUNTUR: For the first time in history, Flue Cured Virginia tobacco produced in India has managed to go past the dream price of $ 2 on all auction platforms in Andhra Pradesh with an all-time high of Rs.95.40 a kg offered on Monday for leaf from Jangareddigudem in Northern Light Soils. This sudden spurt in the price is being seen as an off-shoot of the in-principle approval of Tobacco Board to reduce the total Virginia tobacco production by 50 per cent in 10 years beginning 2009

This announcement on Sunday by Tobacco Board Chairman J. Suresh Babu clubbed with shortage of quality leaf on the auction platforms and projections of lesser arrivals to command better price by growers.

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