Tobacco sales increase marginally

Tobacco sales increase marginally
Published: 26 June 2018
TOBACCO sales have recorded a 28,3 percent increase so far, raking in $592,3 million compared to $461,6 million earned during the same period last year.

Latest data from the Tobacco Industry and Marketing Board (TIMB) shows that 203,3 million kilogrammes of tobacco have so far been sold since the beginning of the marketing season on March 21 compared to 158,5 million kg during the comparable period last year.

The bulk of the crop has come through contract arrangement with 173,3 million kg sold while 30 million kg were under the auction system.

Average selling price has remained constant at $2,91 a kg.

Bales laid so far were 2 756 907 compared to 2 153 410 during the same period last year.

A total of 2 624 142 million bales have been sold while 132 765 were rejected for various reasons ranging from over weight to underweight.

Tobacco output is expected to rise by close to six percent this year to 200 million kg from 189 million kg in 2017.

In the 2017/18 cropping season, total hectarage planted under tobacco decreased to 104 397 hectares from 110 518 ha in the prior year.

The golden leaf is Zimbabwe's biggest foreign currency earner after gold.

Presently, the country exports the bulk of its flue-cured tobacco with export earnings from the crop expected to reach $1,2 billion this year compared to $904 million in 2017.

At present, Zimbabwe is exporting its tobacco to 50 countries including China, South Africa, Brazil, Macau, Yemen, Cambodia, Laos, Croatia, United Arab Emirates, Indonesia, France, Hong Kong, Taiwan, Spain, Tanzania, Taiwan,

Algeria and Sudan among a host of other consumers of flue-cured tobacco from the country.

With an estimated 350 million smokers, China has been spending over $200 million annually on Zimbabwean tobacco, regarded among the best in the world.

Last year, over 60 countries imported flue-cured tobacco from Zimbabwe.
- chronicle
Tags: Tobacco,


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