Zimbabwe tobacco sales hit $558 million

Zimbabwe tobacco sales hit $558 million
Published: 19 September 2017
Farmers have sold $558,8 million worth of tobacco since the start of the 2017 tobacco marketing season, a 6,7 decline compared to the same period last year.

Latest statistics from the industry regulator, Tobacco Industry and Marketing Board show that 188, 7 million kilogrammes of tobacco had been sold to date.

The volume of tobacco sold so far this year is 6, 7 percent down from 202,2 million kg of tobacco sold during the comparable period last year.The average price of the crop is slightly higher at $2, 96 per kg compared to $2, 95 in the comparable period last year.

Only contract sales are still underway as the 2017 tobacco selling season nears the end.The industry is however of the view that the set target of 206 million kilogrammes of tobacco may not be reached given the lesser volume of tobacco that has been sold so far.

But TIMB public relations manager Isheunesu Moyo said deliveries of contracted tobacco are still on- going, raising hopes the target may still be achieved.

The 2016/17 crop was affected by excessive rains which negatively impacted on quality and quantity of the tobacco.

The rains also presented challenges in curing the tobacco.Zimbabwe attained peak production of tobacco at 260 million kg in 1998, when the crop generated $582 million in export proceeds.

Production of the crop has since rebounded from a low of 48,8 million kg in 2008.

Zimbabwean tobacco is exported to Belgium, Korea, United Arab Emirates, China, Sudan, Hong Kong, Indonesia, Philippines, United Kingdom, Spain,  New Zealand and Russia.

- New Ziana
Tags: Tobacco,


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