Home » Sports » ZIMBABWE HAS EXPORTED 340 MLN USD WORTH OF TOBACCO SO FAR THIS SEASON

HARARE, Zimbabwe has so far exported 77.7 million kilogrammes of tobacco this season, up from 59.1 million kg exported in the corresponding period last year, according to the latest statistics which the industry regulator has released.

In its weekly bulletin, the Tobacco Industry and Marketing Board (TIMB) said Thursday that revenue from tobacco exports for this year currently stands at 339.8 million US dollars compared with 305.2 millio USD grossed during the same period last year.

The tobacco is being exported at an average price of 4.37 USD per kg. China, Belgium, South Africa and the United Arab Emirates (UAE) have been the major buyers of the golden leaf out of the 58 countries buying Zimbabwean tobacco.

China remains the top destination for Zimbabwean tobacco, buying 16 million kg worth 129.5 million USD at an average price of 8.05 USD per kg. The second largest buyer, South Africa, imported 9.7 million kg valued at 26.6 million USD while exports to Belgium were 8.4 million kg valued at 120.4 million USD.

Meanwhile, tobacco sales are down 7.1 per cent to 186.2 million kg worth 552.8 million USD after heavy rains affected both the quantity and quality of the crop. During the same period last year, slightly more than 200 million kg of tobacco worth 590.4 million USD had been sold at this stage.

Tobacco auction sales were concluded last Friday while a few contractors are still buying the remaining crop from farmers who they contracted.

Zimbabwe had anticipated sales of at least 205 million kg of tobacco from the 2016/17 selling season but the TIMB says the target is unlikely to be met because output was badly affected by heavy rains.

Source: NAM NEWS NETWORK

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