Tobacco marketing season ends | The Chronicle
Dr Andrew Matibiri
Oliver Kazunga, Senior Business Reporter
THE 2018 tobacco marketing season has come to an end after auction floors closed last Friday while contract sales will continue until further notice, the Tobacco Industry and Marketing Board has announced.
This year’s selling season, which began on March 21, a fortnight ago hit a record high of 237,1 kilogrammes. The high increase in tobacco sales were largely due to Chinese buyers who want flue-cured tobacco from Zimbabwe.
In a telephone interview, TIMB chief executive officer Dr Andrew Matibiri said by the end of the marketing season, 243 million kg are expected to have been sold generating more than $800 million.
“The auction floors are closing today (Friday) but the contract sales will continue until the collection of tobacco is finished.
“We expect to have sold 243 million kg by the end of the marketing season on Wednesday,” he said.
Dr Matibiri said this year’s marketing season was much better compared to last year because this year the prices at the auction floors were “very” stable.
“This year’s season was much, much better than the previous year as the prices were very stable and according to farmers, they were very fair,” said Dr Matibiri.
The golden leaf is one of Zimbabwe’s major foreign currency earners.
In 2017, the sector accounted for 25 percent of the country’s total exports which stood at $3,8 billion. The number of tobacco growers has been on an upward trajectory with over 145 000 farmers having registered to grow the crop in the 2018/19 season compared to 98 795 during the same period last year.
Zimbabwe exports flue-cured tobacco to different parts of the world with China being the largest consumer of the golden leaf.
With an estimated 350 million smokers, the Asian country spends around $200 million annually on Zimbabwean tobacco.
Other top buyers of flue-cured tobacco from Zimbabwe are South Africa, the United Arab Emirates, Indonesia and Belgium.
Zimbabwe also exports to Botswana, Nigeria, Ethiopia, Malawi, Mozambique, Namibia, Bulgaria, Germany, Spain, France, Netherlands and Vietnam. Last year tobacco exports realised $904 million, which was a decrease from the $933 million recorded the previous season. — @okazunga