HomeNewsTobacco revenues near $350 million

Tobacco revenues near $350 million

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The Tobacco Industry Marketing Board (TIMB) has recorded more sales and volumes for the 103 days in the current tobacco selling season compared to the same period last year.

Recent figures from TIMB indicate that at least 125 million kg of tobacco have so far been sold generating $343 million in the process.

For the same period last year, 106 million kg had been sold raising $313 million.

The tobacco was sold at an average price of $2,75 per kg. The selling season commenced in February and is expected to close in August. At least 1,6 million bales were laid while 1,5 million were sold.

TIMB said China and European countries had dominated seasonal exports in the first two and a half months of the tobacco selling season, earning $259 million from 51,7 million kg sold.

Exports to Belgium, Germany, United Kingdom, Spain, Netherlands, France, Germany, 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.

He said tobacco deliveries to the floors so far were 50% contract and 50% from small-scale farmers, but the trend was likely to change when all the small-scale farmers complete their sales.

In 2011, tobacco output is expected to increase to between 170 and 200 million kg on the back of increased hectarage.

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