New tobacco prices
The National Tobacco Administration approved the new floor prices for tobacco for trading years 2016 and 2017.
The NTA said the new prices for the three tobacco types—Virginia, Burley and Native—were approved during the biennial tobacco consultative conference held at its central office in Quezon City.
For Virginia, the floor price per kilogram for the top grades increased around P2 to P4, bringing the prices to P81 for Grade AA, P79 for A, P77 for B, P75 for C, P68 for D, and P67 for E.
The old prices were P78 for AA, P75 for A, P73 for B, P71 for C, P66 for D, and P65 for E.
The NTA said prices for low grades remained at P59 for F1, P56 for F2, and P46 for reject.
For Burley, the top-grade A rose by P7 bringing the price per kilo to P68 from the current P61. The floor prices for Grade B are now P65 and P56 for C, an increase of P6 and P3, from the current prices of 59 and P53, respectively.
Prices for low grades were kept at P45 for D, P44 for E, P37 for F and P28 for reject.