Tobacco output reaches record high

Tobacco output reaches record high
Published: 24 July 2018
ZIMBABWE's tobacco output has reached a record high of 237.1 million kg just before the end of the 2018 selling season, statistics from the Tobacco Industry and Marketing Board (TIMB) show.

This year's marketing season which began on March 21 ends on Friday.  Statistics from TIMB indicate that $688,7 million has been raised from the volume sold at the auction floors.

During the same period last year, a total of 175,9kg had been sold at the auction floors, generating $520,1 million

The golden leaf is one of Zimbabwe's major foreign currency earners.

Last year, the sector accounted for 25 percent of the country's total exports which stood at $3,8 billion.

Since the Land Reform programmme the Government embarked on in 2000, the number of tobacco growers has been on an upward trajectory with over 145 000 farmers having registered to grow the crop in the 2018/19 season compared to 98 795 during the same period in 2017.

The tobacco crop has traditionally been pivotal to the economy by offering liquidity support.

Zimbabwe exports flue-cured tobacco to different parts of the world with China being the largest consumer of the golden leaf from the country.

With an estimated 350 million smokers, the Asian country spends around $200 million annually on Zimbabwean tobacco, regarded among the best in the world.

Other top buyers of flue-cured tobacco from Zimbabwe are South Africa, the United Arab Emirates, Indonesia and Belgium.  Zimbabwe also exports to Botswana, Nigeria, Ethiopia, Malawi, Mozambique, Namibia, Bulgaria, Germany, Spain, France, Hong Kong, Netherlands and Vietnam.

Last year, tobacco exports topped $904 million, which was a decrease from the $933 million recorded during the previous season.
- chronicle
Tags: Tobacco,


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