Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-04-20
PREDICTs LOWER
| TOBACCO PRICES
State University Expert Tells His
Views After Looking Over
Market Conditions

Madison county tobacco growers are
greatly interested in the forecast for
next years crop and survey of price
and other market conditions as made
by Prof. John r. Humphrey of the
State University Experiment Station,
following his visit to trade centers in
the east. He thinks the tobacco mar
ket is going to be somewhat off next
year. He says:
After a careful investigation into
the condition of the tobacco markets
of the United States and such foreign
countries as information can be secur-
ed from and based entirely upon nor
NAL production per acre, for the tobac-
co acreage now in sight, the Depart
ment of Markets submits the follow
ing report for the information of to-
bacco growers and buyers in this state
The acreage to be devoted to tobac-
co in the United States will probably
increase by about 10 per cent over
1919. Kentucky will change the least
in acreage of any of the great tobac-
CO producing states. Indications are
that crop acreage will be increased
from 10 to Ii per cent in the Caro-
linas and Virginia, and about 500 per
cent in Georgia. The explanation of
! the great increase of the latter lies
in the fact that farmers in Georgia
are taking to tobacco as a means of
utilizing areas attacked by the boil
weayil and new unsuitable for cotton.
Foreign acreage seems to have in
creased very little, but the condition
of the India tobacco crop is greatly ina
proved over that Of the same period
last year. With normal production
therefore, there should be consider
able increase in tonnage over that pro-
duced in 1919.
At the time this department made
its report in 1919, there We're vast
quantities of tobacco held in the hands
of buyers and in storage in warehouses
in the United States, but as cited in
that bulletin, Europe constituted a
hungry market. This year, about equal
If not greater, stocks are held in the
United :! States and England, Hol-
land and; Scandinavia find themselves
with market glutted, with tobacco
shipped 10 them by the United, States
and other agencies from August to
December, 1919, at which time the ov5-
erplus of tobacco in the United States
was lifted and mlpyed across the At
lantic, either fol. cash or on credit. in
order to free this eountrg's markets
for the coming selling. season. 81,
81 Il Something Ike three times as. much
tobacco was exported in 1919 as was
fnotmally sent. out of THE country; and
the demand for this tobacco In Europe
although great, was not sufficient with
IlcE available outlets to consume it in
|I5any measure saas. fast as it, was being
lsshipped. AS a result, the glut above
mentioned, now exists in some Euro
Peoh couhItleS. W. nave, sIiiei eloio'
this year full market IN America as
was the case last year, but with the
difference that Europe is not demand
ing tobacco in such great quantity as
before. In fact, some English firms
are willing TO export tobacco from -
gland TO America IN order to lessen
their stock.
With the acreage now planned, if a
normal yield per acre is produced, the
price of all hurley except the highest
type OF cigarette leaf should show q
market falling off during the market
season of 1920, and even the highest
quality of leaf may suffer from eompe-
tition with the Virginia type, if this
is produced in anywhere near the
quantity indicated by the acreage now
d planned. Since 1917 there has been
a constant trend toward an oyer-pro-
duction of tobacco but this was not
felt because of the sudden economic