Home » Business » Over U.S.$500 Million Tobacco Sold to Date

OVER US$500 million worth of tobacco has gone under the hammer so far, statistics from the Tobacco Industry and Marketing Board show. TIMB said 162 838 508kg had been sold as of last Friday, indicating an 11 percent increase from the same period last. Tobacco Sales Floor is the leading tobacco auctioneer so far this season with 21,9 million kg sold, followed by Premier Tobacco Floors (11,1 million kg) and then Boka Tobacco Sales Floor (7,5 million kg). Smaller floors and companies accounted for the rest.

For the 2,2 million bales laid this season, 104 919 were rejected for various reasons, including overweight and mixed hands.

Though tobacco mass has increased this season, average prices are lower than those paid last year.

At least 180 million kg are expected to be sold this year, up from 166 million kg in 2013.

This season’s average tobacco price has been US$3,21, which is 13,8 percent less than last year’s US$3,72.

More than 105 355 growers registered to grow tobacco this season, up from 90 172 in 2013.

Mashonaland West province registered the largest number of growers (30 003) while Matabeleland had the least (eight).

Tobacco is one of Zimbabwe’s major agricultural exports accounting for 10,7 percent of GDP.

At least 180 million kg are expected to be sold this year, up from 166 million kg in 2013.

Source : The Herald

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