China and European countries have dominated seasonal exports in the first two-and-a-half months of the tobacco selling season, figures by the Tobacco Industry and Marketing Board (TIMB) have shown.
According to the figures, total seasonal exports totalled 51,7 million kg earning the country $259 million.
“China and European countries bought 40% collectively of tobacco in the period under review with the other 20% going to the rest of the world,” said TIMB chief executive officer Andrew Matibiri.
A total of 18,9 million kg of tobacco was sold to China raking in $141,8 million at an average price of $7,48 per kg.
Matibiri said China was buying top quality tobacco compared to other countries.
He said the tobacco deliveries to the floors were so far 50% contract and 50% from small-scale farmers, but the trend was likely to change when all the small-scale farmers have completed their sales.
Exports to Belgium, Germany, United Kingdom, Spain, Netherlands, France, Germany and Canada, Australia and Poland were 7,9 million kg earning $46,7 million at an average price of between $0,66 to $4,35 per kg.
According to figures made available by TIMB for the 83 days of the selling season, a total of $317 million has been raised, compared to $216 million last year, for the same period.
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A total of 113 million kg were sold at an average price of $2,80 per kg. This figure indicates a 29,46% increase from 87,6 million kg last year.
