SEASONAL tobacco exports have raked in $244 million as at May 4 2016 with the bulk going to China according to latest statistics from the Tobacco Industry and Marketing Board (TIMB). BY TARISAI MANDIZHA
During the same period last year, tobacco worth $230 million was sold.
In 2016, seasonal exports increased to 41,7 million kg at an average price of $5,84 compared to last year’s 37,5 million kg at an average price of $6,14 per kg.
The value of the crop exported to China was $163 870 169 at an average price of $8,11 per kg. South Africa was the second highest buyer, purchasing 7 920 083 of the golden leaf valued at $24 736 067. The average price was $3,12.
According to statistics from the TIMB, of the total exports of 41 698 201kg, nearly half (20 206 837kg) of the golden leaf had been shipped to China.
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Indonesia was the third after buying 2 059 946kg of tobacco worth $11 132 105 at an average price of $5,40 per kg.
During the same period last year, China was leading after buying 19 679 380kg valued at $168 534 117. The average price was at $8,56 per kg, while South Africa brought 4485 970kg valued at $14 189 131. The average price was at $3,16 and Russia purchased 1 633 000kg valued at $5 075 900 at an average price of $3,11 per kg.
As of Friday last week tobacco totalling 42,6 million kg and valued at $117,5 million had been sold as deliveries increased to the auction floors.
The deliveries were 66% up from the 25,7 million kg recorded last year valued at $28,2 million.
Latest statistics from the TIMB showed that tobacco was being sold at an average price of $2,76 per kg, compared to $2,67 per kg over the same period last year.
The total auction sales stood at 8,5 million kg valued at $19,8 million, while contract sales accounted for 34 million kg worth $97,8 million.
According to a TIMB report, the number of farmers registered as tobacco growers declined by 19% to 78 015 compared to 96 025 during the same period last year.