. The auction marketing of flue-cured tobacco : a preliminary appraisal. Tobacco Cooperative marketing. Flue-Cured Tobacco COST OF INSPECTION RELATED TO SALES PER SET OF BUYERS INSPECTION COST($ PER CWT.) 12 8 % I I I L. I'll J L I I L 10 15 20 MIL. LBS. PER SET OF BUYERS TYPES IIA. US, AND 12. 7951 DEPARTMENT OF AGRICULTURE NEC. 1309-55(1) AGRICULTURAL MARKETING SERVICE Figure 3 Relation of Resales to the Margin at Auction Markets Most of the flue-cured tobacco is offered by the growers and purchased by manu- facturers and tobacco dealers who do some processing. From a fifth to a sixth o
. The auction marketing of flue-cured tobacco : a preliminary appraisal. Tobacco Cooperative marketing. Flue-Cured Tobacco COST OF INSPECTION RELATED TO SALES PER SET OF BUYERS INSPECTION COST($ PER CWT.) 12 8 % I I I L. I'll J L I I L 10 15 20 MIL. LBS. PER SET OF BUYERS TYPES IIA. US, AND 12. 7951 DEPARTMENT OF AGRICULTURE NEC. 1309-55(1) AGRICULTURAL MARKETING SERVICE Figure 3 Relation of Resales to the Margin at Auction Markets Most of the flue-cured tobacco is offered by the growers and purchased by manu- facturers and tobacco dealers who do some processing. From a fifth to a sixth of the tobacco delivered by the growers does not follow this short, direct route. This consists of the tobacco placed under the price support loan program and the resales on the auc- tion market. The loan program for flue-cured tobacco is operated by a cooperative, the Flue-Cured Stabilization Corporation. The actual handling of the tobacco from the ware- house floor through the redrier and into storage is done by one of the tobacco dealers under contract with the cooperative. The latter sells the redried tobacco packed in hogs- heads by private sale to the manufacturers and dealers. The tobacco then enters the marketing channel in the same way as other processed leaf does. The tobacco which later becomes the resales is purchased by the warehousemen or by pinhookers. These buyers do not have the tobacco redried and packed in hogsheads but sell it again in the loose-leaf form on the auction floor, either the same one on which it was purchased or another, thus, the term resales. This tobacco is usually resold within a few days after the original purchase. It is finally purchased by a manufacturer or tobacco dealer and becomes a part of the flow of tobacco through the marketing chan- nel to the consumer. The trading profit or margin received by the pinhookers and warehousemen on their resales is a part of the gross margin taken at the auction market. It accounts for a part of the d
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