PRESS RELEASE November 14, 2001

RALEIGH--The Flue-Cured Tobacco Cooperative Stabilization Corporation will operate fourteen auction market centers during the 2002 marketing season. These auction centers will be strategically located to give farmer members access throughout the flue-cured tobacco producing area. As a service to Stabilization’s farmer members, no warehouse charges, auction fees or commissions will be deducted from the farmer’s sales proceeds. The only deductions will be no-net-cost assessments, USDA grading fees and any state check-off fees. Traditional auction sales will be conducted at the centers with flexible farm tobacco deliveries and support for the sale. Stabilization has enlisted the services of several highly experienced individuals to assist in conducting the sales. Stabilization will operate the market centers with the highest standards of business practices and integrity while providing a friendly seller and buyer atmosphere.

Stabilization operated two pilot tobacco-marketing centers in 2001 — Wilson, North Carolina and Statesboro, Georgia. Stabilization entered the tobacco auction business due to the dramatic shift in 2001 from the traditional auction to direct contracting --- around 80 percent of the 2001 crop was sold through direct contracts. Stabilization’s objective in entering the auction marketing arena is to preserve the competitive auctions as a marketing option for our farmer members, for the foreign purchasers and domestic manufacturers.

Stabilization’s 2002 tobacco-marketing center locations

Douglas, GA

Statesboro, GA

Lake City, SC

Mullins, SC

Fairmont, NC

Clinton, NC

Kinston, NC

 

Williamston, NC

Wilson, NC

Smithfield, NC

Oxford, NC

Winston-Salem, NC

Danville, VA

South Hill, VA

For more information, call (919)821-4560.

 

 

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