E-auctions on four platforms were suspended in the Southern Light Soil (SLS) and Southern Black Soil (SBS) regions on Tuesday as farmers stalled the proceedings in protest against the lacklustre market in the wake of cigarette manufacturers’ decision to shut shop over the issue of larger pictorial health warning on cigarette packs.
The farmers on Ongole I auction platform as also in Tangutur II did not allow the auctions to commence as manufacturers partially withdrew from the market, while exporters tried to take advantage of the reduction in prices in the auction platforms across the SBS region, Tobacco Board sources said.
The situation was no different on the auction platforms of Kandukur II and D.C. Palli in Southern Light Soil(SLS) region with the farmers withdrawing their produce upset over low prices offered by the traders. There was only a minimum inflow of bales in the other SBS and SLS platforms with the manufacturers reducing their offtake “to about 20 to 25 per cent,” Indian Tobacco Association sources said. Read More>
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