The Continental Tobacco Industry Group is starting the tobacco harvest season with favorable prospects

By: STA Date: 2023. 08. 03. 10:00

The Continental Tobacco Group is starting this year’s tobacco harvest season with favorable prospects and is expecting an above-average harvest, the company group told MTI on Thursday.

(Photo: Pixabay)

According to the information, the member of the group responsible for tobacco cultivation, Dofer Dohányfermentáló Zrt., contracted for 1005 hectares of production area for this year, which is 8 percent larger than the previous year. The seedling planting, which began at the beginning of March, and the subsequent training and care work were successfully completed. In terms of plant development, the temperature and rainfall proved to be ideal after the initial colder period.

This year’s harvest will be better than last year’s

Csaba Füzi, the CEO of Continental Dohányipari Zrt., which owns the tobacco factory in Sátoraljaújhely, highlighted in the announcement that everything is in place for this year’s crop to surpass last year’s results. The producer mood is clearly positive, which is supported by the current development of the plantations, as well as market features such as the institution of mandatory purchase and the 50 percent increase in the purchase base price at the beginning of the year – added the CEO.

The Continental Tobacco Group is an independent, Hungarian family-owned private company

It was founded in 1996 in Hódmezővásárhely, and currently employs around 700 workers. The company group’s products are known throughout the country on the Hungarian market, and as a result of the export activity, they are already available in more than 30 countries. Currently, the company group includes Dofer Dohányfermentáló Zrt. in Szolnok, where, in addition to tobacco production, they are responsible for the tobacco leaf processing process, as well as the more than 130-year-old tobacco factory in Sátoraljaújhely. The company group also has subsidiaries in Italy, Germany, Romania and Slovakia. According to publicly available data, Continental Dohányipari Zrt. last year achieved a net sales revenue of HUF 63.7 billion, which is 12.96 percent more than the previous year, the profit after tax in 2022 was HUF 8.2 billion, 29.5 percent more than than a year earlier.

MTI