THE Tobacco Industry and Marketing Board (TIMB) has recorded $16 million in sales of the golden leaf as deliveries continue to rise.
BY TARISAI MANDIZHA BUSINESS REPORTER
Latest TIMB statistics showed that as of day eight (Tuesday), 5,8 million kg of flue-cured tobacco worth $16 million had been sold by the farmers.
The total value is 4% above last year’s figure and 22,32% above last year’s output.
The price of tobacco as at Tuesday averaged $2, 79 per kg compared to $3,29 per kg during the same period last year.
The sales comprised 3 million kg contract and 2,7 million kg auction sales.
At least 1,4 million kg on Tuesday went under the hammer at Tobacco Sales Floor (TSF) while Boka Tobacco Auction Floors (BTAF) and Premier Tobacco Auction Floor (PTAF) sold 865 470 kg and 517 303 kg respectively.
In the period under review, TSF bought tobacco at an average price of $2,50 per kg, BTAF at $2,35 per kg and PTAF at $2,23 per kg.
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Some 82 156 bales were accepted while 5 605 were rejected for various reasons.
About 180 million kg are expected to be delivered to the country’s three auction floors as compared to 166 million kg delivered last year.
More than 88 000 growers have registered compared to about 65 444 registered during the same period last year.
In his 2014 national Budget statement, Finance minister Patrick Chinamasa projected that agriculture would grow by 9%, mainly driven by growth in maize, tobacco, cotton, soya beans and groundnuts among other crops.
