Zimbabwe tobacco sales up

HARARE - Zimbabwean farmers sold 167,14 million kg of the nation’s top export earner, tobacco, by Day 49 of the selling season, which is 20 percent shy of a current season target of 200 million kg, official data showed yesterday.

Compared to the same period last year, the volumes outturn is 19,9 percent up. At the same time last year a total of 139,4 million kg of tobacco had been sold.

Statistics from industry regulator Tobacco Industry and Marketing Board (TIMB) showed that farmers had sold tobacco worth $483,7 million at the country’s auctions and to official tobacco buyers since the selling season started in March.

The growth in revenue was as a result of both a surge in volumes and average selling price.

The average selling price has gone up by 0,72 percent from last year.

Zimbabwe expects to produce 200 million kg of tobacco in 2017/18 up from 186 million kg produced in 2016/17 season, an eight percent envisaged growth.

The projection is premised on favourable weather, increased funding and support as well as improved hectarage under tobacco.

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