25 June 2014

Zimbabwe: Belgium Emerges As Largest Importer of Zim Tobacco

Over 8,4 million kilogrammes of tobacco worth $36.6 million have been exported to Belgium this year. This makes the seat of the European Union the largest importer of Zimbabwean tobacco constituting 39 percent of the total harvest. Recently, Belgium also campaigned for the bloc to lift the illegal sanctions imposed on Zimbabwe to allow unhindered trade in diamonds from Marange.

In its recent update, the TIMB said the United Arab Emirates was the second biggest buyer of the golden leaf with 4,3m kilogrammes having been exported to that country since the start of the tobacco selling season on June 20 this year.

On third position is South Africa, which has bought 3,5m kilogrammes worth $12, 6 million at an average price of $2,93 per kg.

"Exports for 2014 went to 45 countries compared to the previous year with 34 destinations across the globe," said the TIMB in a statement.

The highest export price has been $8,72 per kg that Malaysia offered when it bought 1,8 million kg.

United States of America offered the lowest price after buying 15,360 kg for $0,24 per kg.

TIMB is on record saying the disparity in prices was a result of the tobacco grade.

A total of 198,1 million kg of tobacco worth $630 million have so far been sold through the contract and auction sales.

Other export destinations for the country's tobacco include Malaysia, Indonesia, Singapore, Egypt, Montenegro and Russia.

TIMB also revealed that daily deliveries have significantly dropped particularly at the auction floors, prompting the TIMB to announce the end of the 2013-14 season on June 27.

Over the years, tobacco production in Zimbabwe has been on the increase following the favourable prices that the crop has fetched on the market.

Copyright © 2014 The Herald. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.