Zim tobacco sales down 7,3pc

HARARE - Zimbabwean farmers sold 184,5 million kg of the nation’s top export earner tobacco by day 99 of the selling season, which is 7,3 percent lower compared to 199,1 million kg received in  prior year, official data showed.

Statistics from industry regulator Tobacco Industry and Marketing Board (TIMB) showed that farmers had sold tobacco worth $547,5 million — which is 6,6 percent lower than the same period last season — at the country’s auctions and to official tobacco buyers since the selling season started on March 15.

Zimbabwe’s tobacco earns more than platinum and gold.

TIMB figures also showed that contract floors contributed 83 percent of seasonal total tobacco sales against 17 percent for the auction floors in the same period.     

Bales rejected have been gradually decreasing from 12,4 percent on Day 1 to 5,90 percent on day 99.

Average price per kg stood at $2,97 which is 0,8 percent lower compared to the prior year.

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