Published: 25 April 2014

Zimbabwe has so far sold tobacco worth $300 million, a 3,8 percent improvement from last year's $289 million in the comparable period.

Latest figures from the Tobacco Marketing Industry Board (Timb) show that 92,7 million kilogrammes of tobacco have been sold to date, yielding the $300 million.

The figure is 19,18 percent higher than the 77,7 million kilogrammes were sold in 44 days into the season last year.

The anomaly between the lower volumes figures sold last year and higher volumes this year, and the relatively close revenues is indicative of the lower prices that have been recorded this year.

The current marketing season began with prices just around $2 per kg. Currently prices are averaging $2,87 under the auction system while contract prices are averaging $3,36.

Meanwhile, Timb figures also show that out of the 92 million kilogrammes sold this season, 63,9 million kilogrammes came from contract farming while the auction system had 28,7 million kilogrammes.

Tobacco Sales Floor (TSF) held 14,2 million kilogrammes with Boka Tobacco Floor handling 7,1 million kilogrammes and Premier Tobacco Floor 7,3 million kilogrammes.
- BH24

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