The National Tobacco Administration (NTA) said tobacco trading operations are now in full swing in Ilocos region with the opening of the trading centers in Ilocos Norte, Ilocos Sur, Abra and La Union.
NTA said the provinces produce Virginia tobacco.
The agency added tobacco farmers are expected to have a higher income this season until next year, with the implementation of new floor prices of all tobacco types and its classes produced in the country.
Last October, Belinda Sanchez, NTA administrator, alongside representatives from farmers, tobacco traders and stakeholders agreed for an increase in floor prices of all classes of tobacco ranging from P3.90 to P9.90 per kilogram from the previous tobacco floor prices. For flu-cured Virginia tobacco, the price was set P97 for class AA; P96 for class A; P95 for class B; P93 for class C; P85 for class D; P84 for class E; P75 for class F1; P72 for class F2; and P61 for class R.
NTA said these floor prices – coupled with supervision and management in the implementation of farming technologies and continuing capability enhancement – will help improve the economic of tobacco farmers.
During trading operations, actual buying prices of tobacco are usually higher than the approved floor prices.
