Tobacco sales hit 200m kg as revenue reaches $600m

TOBACCO sales have raked in $600 million for this season after the sale of over 200 million kg of the golden leaf, latest statistics have shown.

BY TARISAI MANDIZHA

According to the Tobacco Industry and Marketing Board (TIMB), 201,5 million kg of tobacco at $592,5 million had been sold up from 195,6 million kg valued at $576,3 million recorded during the same period last year.

The average price was $2,94 per kg, down by a cent from $2,95 per kg recorded over the same period last year.

Contract farming accounts for more than 75% of deliveries, which puts pressure on the tobacco auction system.

Of the 200 million kg delivered to auction floors, over 163 million kg were under contract farming.

Independent tobacco growers delivered 35,9 million kg to the auction floors at a value of $91,2 million, while contract sales were 165,5 million kg valued at $501,3 million.

At least 2 658 435 bales were accepted, while 169 419 were rejected for various reasons.

The country was expected to record a 20% decline in tobacco output this year from 198 million kg produced in 2015.

However, the 2015/16 output of the golden leaf has surpassed the TIMB revised production target of 190 million kg.

Tobacco sales ended last month. This year’s sales started off on a low note after a new system, where farmers’ money was deposited into their bank accounts, faced challenges, as banks did not have adequate cash.

Tobacco is one of the top foreign export earners in the country.

6 Comments

  1. Impressive.

  2. Pastor Zvangu Zvaita

    Hitler Hunzvi’s Legacy when he declared on CNN in 1999 that “We are going towards our land , and we are going to take it ‘ . The beautiful results of bold action. Chenjerai Hunvi…one of Zimbabwes greatest heroes and the father of Modern Land Ownership in Zimbabwe .

    1. I looked at the bank draft which had said $7437 , I be certain …that…my friend could realie earning money in their spare time on-line. . there neighbor has done this for less than twelve months and resently paid the morgage on their mini mansion and got a great new Lancia . have a peek here….

      ===========>>> w­w­w.NewsJob3.C­O­M

  3. I wonder what the critics of the Fast Track land reform have to say about this

  4. Yaa, critics have nothing to say,lol!

    1. I’ve made 22,000usd so far this year w0rking 0nline and I’m a full time student. I’m using an 0nline business opportunitty I heard about and I’ve made such great m0ney. It’s really user friendly andd I’m just so happy that I found out about it..

      ======== CenterWeb10.com

Leave a Reply

Your email address will not be published. Required fields are marked *