12 April 2019

Zimbabwe: Tobacco Sales Gross $14 Million

At least 8,1 million kilograms of tobacco worth about $14 million have been sold so far at auction and contract floors in the country since the marketing season opened last month, statistics from the industry regulator show. Previously a preserve for white commercial farmers, tobacco farming is fast becoming an attractive source of livelihood for many Zimbabwean small scale and communal farmers.

In a trading update on day 14 of business, the Tobacco Industry and Marketing Board (TIMB) said sales had declined by 78 percent from $65,4 million recorded in the same period last year.

The average price for auction and contract floors stood at $1,75 per kg which is 36,7 percent lower than the $2,75 of the 2018 marketing season.

The highest price stood at $5,10 per kg while the lowest was at $0,20.

Tobacco output in Zimbabwe is expected to decline by as much as 15 percent this year owing to the bleak weather conditions under which the crop was grown.

The tobacco being sold this year was grown under grim weather conditions characterised by late rains and prolonged dry spells, particularly when the crop was almost ready for harvesting, prompting authorities to review projections downwards.

Last year, the country produced an all-time high of 252 million kilogrammes of tobacco, earning at least a billion dollars in revenue.

Tobacco is arguably one of the success stories of agriculture in the post-land reform era. - New Ziana.


Opposition's Majome Sworn in As Anti-Corruption Commissioner

President Emmerson Mnangagwa has sworn in former Harare West legislator and a member of the opposition Movement for… Read more »

See What Everyone is Watching

More From: The Herald

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 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.