THE value of tobacco sold as of Friday last week was $517 707 11 up 11% from the same period last year buoyed by the increase in the number of tobacco farmers, according to latest statistics from the Tobacco Industry and Marketing Board (TIMB).
According to TIMB data, 162 838 508 kgs were sold by Friday.
During the same period last year, 125 749 879 kgs were sold raking in $466 142 098.
This year’s average price was $3,18 per kg down from $3,71 per kg recorded during the same period last year. In the period under review, auction floors continue to receive less tobacco as compared to contract sales, the sales comprised 396,7 million kg contract and 121 million kg auction sales.
Of these, 21,9 million kg were sold at Tobacco Sales Floor (TSF), while Boka Tobacco Auction Floors (BTAF) and Premier Tobacco Auction Floor (PTAF) sold 10,6 million kg and 11,1 million kg, respectively. In the period under review, TSF bought tobacco at an average price of $2,88 per kg, BTAF at $2,65 per kg and PTAF at $2,68 per kg. At least 2,3million bales were accepted, while 104 919 bales had been rejected for various reasons.
According to the TIMB weekly report, more than 105 355 growers had registered to grow tobacco next season, a sharp increase from about 90 172 registered during the same period last year.
Out of the registered growers, 30 003 were new growers with Mashonaland West province registering 11 463 growers, Mashonaland Central (7 807), Manicaland (5 344), Mashonaland East (4 711), Midlands (341), Masvingo (329) and Matabeleland (8).
At least 180 million kg is expected to be sold this year, up from 166 million kg last year.