The country's tobacco exports have surpassed US$1 billion amid firming prospects of a record hectarage of the crop this season with farmers intensifying planting buoyed by the current rains.
Statistics with the Zimbabwe National Statistics Agency (ZimStats) show that Zimbabwe earned US$1 297 280 021 from tobacco product exports in 2023.
The Tobacco Industry and Marketing Board (TIMB) weekly report 46 dated November 15 also indicated that the country has so far earned US$1 101 505 751, a five percent rise from US$1 084 734 over the comparable period last year.
In volume terms it dropped two percent from 206 513 850 to 202 777 802 kilogrammes.
The increased earnings were a result of a three percent rise in average price from US$5,25 to US$5,43 per kilogramme.
The Far East market absorbed 50 percent of the exports after buying 100 714 954 kilogrammes of the 202 777 802 kilogrammes traded. It also accounted for 65 percent of the value of tobacco sold, thanks to the high average price of US$7,14 per kilogramme.
Earnings from the African market came second on US$111 790 988 followed by Middle East on US$101 067 067 and European Union (EU) at US$94 648 908.
The Americas came fifth with US$37 240 313, Europe sixth on US$36 925 202 while Oceania was last at US$238 476 though it had the highest average price of US$8,35 per kilogramme.
The report shows that this year's highest and lowest average prices at US$8,35 and US$3,14 per kilogramme respectively are 16 and 24 percent higher than last year's at the comparable time period.
Meanwhile, TIMB also revealed that there had been an eight percent increase in grower registrations from 112 445 to 120 983 with Mashonaland Central leading followed by Mashonaland West and Manicaland provinces.
A total of 111 501 growers have since been contracted with 62 188 coming from the communal sector, 37 145 from A1 with small-scale commercial contributing 5 755 while A2 had 6 413. The area planted under dryland and irrigated tobacco has risen four percent from 32 632 to 33 970 hectares.
The prospects of a better La Nina-influenced season have renewed farmers' interest in growing the golden leaf with experts anticipating a record hectarage and output.
Zimbabwe Tobacco Growers Association (ZTGA) chairman, Mr George Seremwe said he was confident that country would surpass the current record of 296 million kilogrammes.
"Farmers have intensified planting of the dryland crop. They are taking advantage of the rains that pounded most parts of the country, with some already top dressing their tobacco.
"We are appealing to the Government to consider some sort of facility that will free tobacco growers from the contracting model in the upcoming national budget," he said.
The Government localised tobacco funding, but there has not been much movement in that area.
"Localisation of tobacco funding can succeed if the central Government sets aside a budget for the sector. Since it's a United States dollar-based facility, we are optimistic farmers can pay back under stop order within a year if proper control mechanisms are put in place," Mr Seremwe added.
Localisation of tobacco funding will reduce cost of production chiefly attributed to the activities of surrogate companies who put their mark up on input prices, he highlighted.
Zimbabwe Commercial Farmers' Union, president Dr Shadreck Makombe said it was possible to break production records if no disruptive weather patterns occurred.
"Farmers are busy planting, though it's still too early to talk of a record production, it is possible if no calamities like water logging and leaching are encountered," he said.