Published: 09 July 2014

Over 373000 kgs of tobacco valued at over $1,1 million has been sold under the contract system since the end of the 2014 flue-cured tobacco selling season last month.

The Tobacco Industry and Marketing Board (TIMB) confirmed the development, adding that the contract sales will continue until the end of August.

The TIMB said the price offered for the golden leaf under contract has increased from $5,75 to $6,15.

Compared to the same period last year, 7843 bales were laid compared to 3738 bales.

The average price has also decreased from $3,85 to $3,11.

Tobacco has maintained its position as the second top revenue earner after mining, with deliveries for the 2014 auction season having surpassed the season target of 180 million kgs.

205,5 million kgs of tobacco had been sold by the 27th of last month, breaking the 200 million-kgs mark for the first time since 2001. 
- zbc

You might also want to read this

• Tobacco seed sales decline 20%
• Tobacco farmers protest against buyer
• Zimbabwe tobacco sales drop 44%
• Innovative tobacco barn unveiled
• Glitter of golden leaf eludes farmers
• Zimbabwe tobacco sales moving slowly amid disgruntlement
• Zimbabwe expects 200 million kg of tobacco
• Tobacco deliveries increase as prices firm
• US dollar for tobacco, cotton farmers
• Over 19 000ha tobacco planted