World 2007 flue-cured tobacco forecast raised by Universal
Universal Corp., the world's biggest tobacco-leaf merchant, raised its forecast for world output of flue-cured tobacco after increasing its estimate for production in Brazil, the biggest exporter.
The company, based in Richmond, Virginia, forecast a crop of flue-cured tobacco, the top grade of the leaf, of 3.904 billion kilograms (8.59 billion pounds).
That's 0.5 percent more than its last month's forecast, the company said on its Web site in a report dated Dec. 15. Universal maintained its estimate for burley tobacco at 739 million kilograms for next year and oriental tobacco at 295 kilograms for this year.A 2007 estimate for oriental tobacco wasn't provided.
Flue-cured tobacco is dried in a closed barn with heat piped from a furnace. Burley is cured in the open air. China is the biggest flue-cured producer. Brazil and Malawi vie for the rank of top burley producer.
(Published by Bloomberg, December 18, 2006)