Tobacco stakeholders are scheduling a tripartite meeting before the year ends to set the price of the commodity for trading years 2024 to 2025, the National Tobacco Administration (NTA) said on Wednesday.
Belinda Sarmiento-Sanchez, NTA administrator and chief executive officer, told reporters at the sidelines of the International Tobacco Agriculture Summit in Taguig City the local leaf growers aim to convince the large manufacturers to increase price of tobacco.
Such meeting are convened every two years and attended by tobacco farmer groups and the tobacco manufacturing companies and come up with a minimum price for unprocessed tobacco leaves.
Under various Presidential decrees, the NTA is authorized to fix tobacco a minimum price of the commodity under a tripartite consultative conference.
At present, the NTA said, the price of tobacco varies depending on the variety and quality of the leaf although it averages P90 per kilogram.
“All sectors are represented. Hopefully, we can come up with a win-win price for the buyers and farmers,” Sanchez added.
Sanchez also said the local government of Maguindanao seeks to expand tobacco production in the region and has sought NTA assistance in the training of its farmers.
“We are trying to introduce (new) buyers in Mindanao but locally, they have a market” there, Sanchez said.
According to data from the Philippine Statistics Authority, native tobacco leaf production hit 8,221.69 metric tons (MT) last year alone. Those cultivating the Virginia leaf variety produced 23,422.94 MT and other types of tobacco produced another 16,085.75 MT.
