Staff Writer
The Tobacco Industry and Marketing Board (TIMB) has assured farmers that the golden leaf prices are now stabilizing at contract floors.In a statement TIMB said:
“The Tobacco Industry and Marketing Board (TIMB) acknowledges the prevailing global oversupply situation currently affecting the tobacco market.
” However, we wish to emphasise that the pricing conditions witnessed at the start of the marketing season were largely attributable to the early opening of sales floors and limited initial participation by some tobacco buyers rather than any structural distortion of the market.”
TIMB said today improvements in tobacco prices were noted at the auction floors.
“We are pleased to advise that the situation is now stabilising. With the opening of contract floors today, encouraging improvements in pricing are beginning to reflect in the market.
Stable prices were recorded today at the auction floors and at Northern Tobacco, one of the contract floors that is open. Notably, no grower complaints were received during today’s sales.
“The viability and welfare of the tobacco grower remain at the centre of TIMB’s mandate. As the regulator of the industry, TIMB will continue to closely monitor market developments and will not tolerate any conduct that undermines competitive integrity or prejudices the interests of our growers.
“We encourage all growers to remain calm and allow normal market dynamics to firm up as broader buyer participation continues in the coming days,”read the statement.
The 2026 tobacco marketing season hit an immediate roadblock this week when the auction floors where opened, as disgruntled farmers forced the closure of auction floors shortly after the ceremonial first sale.
While the opening bale fetched a promising US$4.60 per kilogram, surpassing last year’s start, the optimism was short-lived. A rapid and steep decline in subsequent prices triggered immediate protests from growers who felt the sudden drop was unjustified, even considering a potential oversupply in the market.
This early-season standoff highlights a deep-seated tension between producers and buyers, casting a shadow over what was expected to be a profitable year for the industry.