TOBACCO worth $246,34 million has so far been sold at the tobacco sales floor, compared to $234,29 million recorded during the same period last year, statistics from the Tobacco Industry and Marketing Board (TIMB) have revealed.
BY TATIRA ZWINOIRA
The golden leaf was being sold at an average price of $5,79 per kilogramme. The average price was lower than the same period in 2015, when the price was $6,01 per kg.
According to TIMB statistics, tobacco was sold to over 38 countries, with China, South Africa and Indonesia being the top three buyers.
A total of 20,2 million kg of tobacco was sold to the world’s second largest economy, China, a slight improvement from last year’s 19,72 million kg year to date.
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However, despite the slight increase of tobacco sold to China, the value of the golden leaf sold was $163,87 million, down from $168,81 million over the same period last year.
Tobacco sales to South Africa improved by more than 50% to 8,1 million kg for a value of $24, 86 million from 4,9 million kg recorded last year at a value of $14,43 million over the same period in 2015.
Indonesia has overtaken the United Arab Emirates on position three, with 2,1 million kg of tobacco sold to that country at a value of $11,66 million.
During the 37 days of the selling season $239,8 million was earned from the sale of the golden leaf indicating a 37% increase from $175,6 million. The output also increased by 35,45% during the period to 83,5 million kg from last year same period.
Average price of tobacco was of $2, 87 per kg a slight increase from last year’s $2, 85.
Recently, tobacco has fast become a big exporter to the outside market coming second to mining commodities.