LATEST sales figures from Zimbabwe’s Tobacco Industry and Marketing Board (TIMB) indicate that the golden leaf has raked in close to $500 million with more deliveries still expected before the curtain comes down at the country’s auction floors.
Business Reporter
TIMB said 152 million kg of flue-cured tobacco worth $481,8 million had been sold to date, compared to 118,8 million kg worth $440,6 million sold during the same period last year.
At least 180 million kg is expected to be sold this year, up from 166 million kg last year.
This year’s average price was $3,18 per kg compared to $3,71 per kg recorded during the same period last year.
The sales comprised 109,5 million kg contract and 42 million kg auction sales.
Of these, 21,1 million kg were sold at Tobacco Sales Floor (TSF), while Boka Tobacco Auction Floors (BTAF) and Premier Tobacco Auction Floor (PTAF) sold 10,2 million kg and 10,8 million kg, respectively.
In the period under review, TSF bought tobacco at an average price of $2,89 per kg, BTAF at $2,66 per kg and PTAF at $2,69 per kg.
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At least 2,1 million bales were accepted, while 97 202 bales had been rejected for various reasons.
TIMB officials said more than 104 737 growers had registered to grow tobacco next season, a sharp increase from about 89 680 registered during the same period last year.
Out of the registered growers, 29 921 are new growers with Mashonaland West province registering 11 432 growers, Mashonaland Central (7 783), Manicaland (5 331), Mashonaland East ( 4 701), Midlands (336), Masvingo (330) and Matabeleland (8).
