04-05-18 by Spotlight Zimbabwe

US$12 million Tobacco Sold In First Days Of Zim’s Tobacco Season

 

HARARE — At least six million kilogrammes of tobacco worth 12 million US dollars have been sold so far the Zimbabwe tobacco selling season opened on March 21 this year, statistics from the industry regulator show.

Previously, a preserve of white commercial farmers, tobacco is fast becoming an attractive source of livelihood for many small-scale and communal black farmers. In a recent trading update, the Tobacco Industry and Marketing Board (TIMB) said sales had declined by 21 per cent from 15.2 million recorded in the same period in the previous season.

The average price at both auction and contract floors stood at 2.67 USD per kg. which is 4.7 per cent higher than in the 2017 marketing season. The crop has so far fetched a highest price of 5.60 USD per kg while the lowest has been 10 US cents per kg.

Rejected bales went down by seven per cent to 5,863 from 6,308 recorded in the same period last year.

The bulk of the tobacco has been exported to China with the rest going to South Africa, Belgium, the United Arab Emirates, Indonesia, Sudan and Russia.

 

BERNAMA-NNN-NEW ZIANA

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