July 11, 2001 | By: Aimee D. Heald
LEXINGTON, KY.

The tobacco industry in Kentucky is always changing. University of Kentucky College of Agriculture professionals want to make sure producers always stay on top of things, so they created a web site just for that purpose.

Most recently, a Phase II Payment Estimator was added. Viewers must have Microsoft Excel installed on their computers with macros enabled to use the calculator. It was designed to make it fast and easy to estimate Phase II payments for 2001.

"This Phase II payment calculator provides an estimate of an individual's expected Phase II payment for 2001, based on a projected Phase II fund of $106 million for Kentucky," said Will Snell, UK agricultural economist for tobacco and agricultural policy. "Kentucky's portion of this national grower settlement for 2001 is $118.6 million, but Phase II funds are adjusted annually based on changes in U.S. cigarette consumption and the rate of inflation."

Snell said final data for these calculations will not be made available until later this year. Thus, users should understand that the actual Phase II payment rates likely will slightly vary from the rates presented in the worksheet.

For 2001, Kentucky's Tobacco Settlement Trust Corporation will continue to divide the funds equally (approximately $35.33 million) among three groups – Quota Owner, Growing Farm and Grower/Tenant.

The payment calculator can be found at the following URL:

Other tobacco information including current tobacco policy, contracting information, government reports, outlooks, grower organizations and financial management can be found at the main tobacco economics page:

Contact: 

Will Snell 859-257-7288