Tobacco Prices Likely To Increase Slightly Due To Drought
If you’re a tobacco user, the news isn’t all that bad. Tobacco prices may increase only slightly due to the drought.
Because of recent rains, Kentucky tobacco farmers now believe they will be able to salvage at least some of their burley. Farmers say an “average crop” now is being forecast for burley tobacco in Kentucky and Tennessee.
The rosier picture comes just weeks after the crop was on the brink of ruin from extreme heat and drought. Tobacco specialists now say much of the burley has gone through a growth spurt, thanks to recent rains. Farmers are just beginning to harvest tobacco to hang in barns for drying. …
University of Kentucky agricultural economists say that with a decent curing season, this year’s burley crop could fetch slightly higher prices than a year ago.