British American Tobacco’s Ugandan Unit Cuts Crop Forecast 11% on Drought

(Bloomberg) British American Tobacco Plc (BATS)’s Ugandan unit, the country’s biggest producer of the leaf, cut its crop forecast for this year by 11 percent after a drought, and said a stunted harvest may further pressure estimates.
Contracted farmers may produce as much as 16,000 metric tons this year, from an earlier forecast of 18,000 tons, Solomon Muyita, the corporate and regulatory affairs coordinator at BAT Uganda Ltd., said in an e-mailed response to questions today. Continued